French media giant Canal+ has completed its takeover of South African pay-TV and streaming company MultiChoice, creating one of the largest media groups across Africa, Europe, and Asia.
In a joint statement released on Monday, the companies confirmed that the combined group will employ 17,000 people and serve more than 40 million subscribers. Canal+ described the deal as “the largest transaction ever undertaken” in its history.
Maxime Saada, Canal+ Chief Executive, said the acquisition was a major boost for the company’s presence on the continent. “This acquisition allows us to strengthen our position as a leader in Africa, one of the most dynamic pay-TV markets in the world,” Saada stated.
The buyout, worth about $3 billion, received final approval from South Africa’s competition authority in July, more than a year after Canal+ launched its bid. The French company offered 125 rand ($7.2) per share for MultiChoice.
Before the acquisition, Canal+ was already the market leader in French-speaking African countries, with operations in 25 nations, 16 subsidiaries, and eight million subscribers. MultiChoice, on the other hand, operates in 50 sub-Saharan African countries with 14.5 million subscribers, including its flagship platforms DStv, GOtv, and Africa’s premier sports broadcaster, SuperSport.
However, Nigerian subscribers have expressed concerns, particularly following MultiChoice’s recent report of losing 243,000 customers. Many viewers say the company has failed to address rising subscription costs and frequent service complaints.
A Lagos-based customer, Chinyere Okafor, told Vanguard: “MultiChoice keeps increasing prices but the service is not improving. Now with this takeover, we are worried things might even get worse.”
Another subscriber, Adewale Johnson, added: “They have lost so many of us already. If Canal+ wants to win back trust, they must listen to Nigerian customers.”
The acquisition marks a turning point in Africa’s pay-TV market, but analysts say how Canal+ manages pricing, service delivery, and local content will determine whether the deal benefits millions of subscribers across the continent.