French media company Canal+ announced on Monday that it has taken effective control of South African pay-TV and streaming giant MultiChoice, creating a combined group with operations across nearly 70 countries in Africa, Europe, and Asia.
In a joint statement, the companies said the merged entity will employ about 17,000 people and serve more than 40 million subscribers worldwide. Canal+ described the acquisition as the largest transaction in its history.
The move strengthens Canal+’s dominance in Africa, where it already leads in French-speaking markets. With MultiChoice, it now controls the top provider in English- and Portuguese-speaking regions.
“This acquisition allows us to strengthen our position as a leader in Africa, one of the most dynamic pay-TV markets in the world,” said Canal+ Chief Executive Maxime Saada.
South Africa’s Competition Commission approved the takeover in late July, more than a year after Canal+ launched its bid. The French broadcaster offered 125 rand ($7.20) per share, valuing MultiChoice at about $3 billion.
Canal+ currently operates in 25 African countries through 16 subsidiaries and has eight million subscribers.
MultiChoice, which runs services in 50 countries across sub-Saharan Africa, has 14.5 million subscribers. Its assets include Africa’s leading sports broadcaster, SuperSport, and the popular DStv satellite television service.
With the merger finalized, the new group is positioned as a major global player in the pay-TV and streaming industry, particularly in emerging markets.
