In a move that’s reshaping the African entertainment landscape, French media powerhouse Canal+ has solidified its dominance by increasing its stake in MultiChoice Group to 76.52%.
This latest increase came through the acceptance of an additional 17,954,344 ordinary shares under its ongoing mandatory offer, pushing the total from a previous 72.46%.
The announcement, filed via the Johannesburg Stock Exchange (JSE) on October 6, 2025, highlights Canal+’s aggressive push to merge traditional pay-TV with digital streaming at a time when Sub-Saharan Africa’s media market is exploding with demand.
MultiChoice’s board wasted no time in endorsing the disclosure, stating that the information is “true” and “does not omit anything likely to affect the importance of such information.”
This compliance with South Africa’s Companies Act and JSE listing requirements ensures a smooth regulatory path, avoiding any hurdles in what has already been a marathon acquisition process.
A Quick Recap: From Stake-Building to Full Control
Canal+’s journey with MultiChoice dates back to 2020, when it first acquired a modest 6.5% stake. Fast-forward to September 2025, and the company had already reached effective control with around 48.2% ownership, strengthened by tendered shares.
The deal became unconditional on September 22, 2025, after clearing all competition authority conditions, including an R30 billion commitment to keep MultiChoice’s headquarters in South Africa and sustain investments in local content and sports.
By early October, the stake had climbed to 72.46% through targeted acquisitions, and now at 76.52%, Canal+ isn’t just a major shareholder; it’s the undisputed boss.
READ ALSO:How Canal+ and MultiChoice Plan to Rival Netflix With New Africa Leadership
This caps a €2 billion (about R35 billion) takeover campaign that began in full swing in 2024, navigating regulatory scrutiny from South Africa’s Competition Tribunal and ICASA.
Notably, Canal+, which spun off from its former parent Vivendi in December 2024 to become a standalone listed entity now commands a combined subscriber base exceeding 40 million across nearly 70 countries.
With MultiChoice’s DStv, GOtv, and Showmax platforms in the fold, Canal+ bridges French- and English-speaking African markets, from Nigeria to Kenya and beyond.
What This Means for MultiChoice: Integration and a New Era
For MultiChoice, the implications are significant. Under Canal+’s wing, the company gains access to deeper pockets and global collaborations that are crucial as it battles subscriber turnover and streaming rivals like Netflix and local upstarts.
Canal+ CEO Maxime Saada has hailed the merger as unlocking “close to 25 million subscribers in Africa,” positioning the group for explosive growth in high-potential markets.
A revamped board, announced in late September, signals the start of integration. Outgoing MultiChoice CEO Calvo Mawela steps into the chairman role for Canal+’s African operations, while David Mignot and Nicolas Dandoy take the CEO and CFO helms, respectively.
This leadership blend promises to fuse Canal+’s premium content expertise with MultiChoice’s grassroots reach.
Analysts view this as a “seismic shift” in Africa’s broadcast landscape. The combined entity could supercharge local production, with commitments to fund South African creatives and sports vital in a sector where foreign investment often sparks sovereignty debates.
The Viewer Angle: More Choices, or a Titan in Disguise?
For the millions tuning into DStv or bingeing Showmax, the big question is: Does this stake hike spell better value?
On the upside, yes. Canal+’s fusion of linear TV and OTT (over-the-top) streaming aligns perfectly with Africa’s digital surge, with internet penetration hitting 43% in Sub-Saharan Africa by mid-2025, up from 28% in 2020, fuelling a content boom.
Viewers could see enhanced Showmax offerings, blending Canal+’s international hits with MultiChoice’s homegrown gems like Blood & Water or Premier League broadcasts.
Expect cross-promotions, bundled packages, and tech upgrades to combat piracy and lag. Saada emphasises “enhanced scale” for collaborations that are potentially lowering costs and expanding affordable tiers like GOtv.
But limitations apply. With Canal+ holding over 75%, concerns about content curation and pricing power arise.
Will French influences tilt programming? Or dilute local flavours? Regulatory safeguards, like the LicenceCo structure for broadcasting licences, aim to preserve South African control, but vigilant oversight is key.
In essence, this isn’t just a bet; it’s a blueprint for Africa’s entertainment future. As internet access surges and Gen Z demands on-demand access, Canal+’s grip could democratise premium content or consolidate power. Either way, the remote control just got a lot more interesting.
CANAL+ Guide 2025:
CANAL+ Plus Polska continues to expand its reach in Europe, offering premium entertainment alongside the flagship CANAL+ Sport channels.
Operated under Canal+ SA, the group maintains a strong presence through CANAL+ Plus France, delivering diverse content from movies to live sports.
Subscribers can enjoy streaming through CANAL+ Plus Live or manage their accounts easily via the CANAL+ Plus login portal.
The broadcaster’s wide range of CANAL+ Plus packages caters to different audiences, from sports enthusiasts to film lovers.
In Africa, the collaboration between Canal+ MultiChoice has further strengthened the brand’s global footprint, bringing world-class programming to more households.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.
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