Canal+, the French broadcasting giant, has extended the deadline to finalise its takeover of South Africa’s MultiChoice from April 8, 2025, to October 8, 2025. This extension allows more time to set up a licencing company (LicenceCo) that complies with South Africa’s foreign ownership laws, a key requirement for the deal’s approval.
Canal+ has had its paws on South Africa’s MultiChoice for so long, viewing the pay-TV group as its most effective gateway into Africa, thanks to its operations across multiple countries. MultiChoice first caught Canal+’s attention in 2020 when it acquired a 6.5% stake in the pay-TV provider. Over the years, this stake steadily increased, reaching 41.6% by April 2024 and triggering a mandatory takeover offer under South African law. In response, Canal+ offered to buy the remaining shares at R125 ($6.74) per share.
The transaction was initially expected to close by April 2025, but regulatory hurdles, particularly South Africa’s broadcasting ownership laws, slowed progress. The process was further complicated by Canal+’s separation from its former parent company, Vivendi, in December 2024, which led to its independent listing on the London Stock Exchange. Despite these challenges, the extension confirms Canal+’s commitment to acquiring MultiChoice under its new corporate structure.
To comply with South African regulations, a new entity, LicenceCo, will be established to hold the country’s pay-TV licence and manage DStv subscribers. It will be controlled by South African stakeholders, including Phuthuma Nathi, Identity Partners, Itai Consortium, Afrifund Consortium, and a Workers’ Trust. Meanwhile, MultiChoice Group will shift from being a broadcaster to functioning solely as a video content supplier.
Acquiring MultiChoice is a strategic move for Canal+, which aims to expand its influence in Africa’s fast-growing media market. MultiChoice is the largest pay-TV provider on the continent; an acquisition will strengthen Canal+’s position in both traditional and streaming services, helping it compete with global streaming giants with a target of 100 million subscribers.
The full licencing and broadcasting takeover could bring increased investment in local content, improved streaming options, and potentially more competitive pricing. However, regulatory scrutiny and local content requirements will shape how Canal+ operates in the region.
