In a statement released on Monday, the company said it intends to delist MultiChoice from the JSE before pursuing a secondary listing by introduction of Canal+. The move will allow South African investors to trade directly in shares of the expanded pay-TV and streaming conglomerate—one of the most ambitious cross-border media integrations in Africa’s corporate history.
A New Chapter in African Broadcasting
The acquisition, valued at about $3 billion, secures Canal+ a dominant presence across Africa’s most lucrative entertainment markets—South Africa, Nigeria, and Kenya—while strengthening its position as a global media powerhouse.
Founded in 1985, MultiChoice evolved from a small South African satellite television service into a continent-wide leader in home entertainment. Its DStv brand became synonymous with English Premier League football, Nollywood films, and local storytelling, shaping television culture across more than 50 African countries.
By the early 1990s, MultiChoice had pioneered subscription-based TV in Africa, bringing pay-TV to millions of households at a time when free-to-air broadcasting dominated. Originally part of Naspers Ltd., the company was spun off in 2019, gaining autonomy to pursue its digital and streaming ambitions.
A Strategic $3 Billion Bet
For Canal+, which is owned by Vivendi SE, the deal represents both commercial expansion and cultural investment. The French broadcaster currently operates in 50 countries, but Africa’s youthful population, growing urbanisation, and deepening internet penetration make it a frontier for media growth.
The merger will create a combined subscriber base of nearly 40 million users, positioning the entity as a formidable challenger to Netflix, Disney+, and Amazon Prime Video in audience reach across emerging markets.
Investing in Local Growth
Canal+ has signalled plans to increase investment in African content, local sports rights, and streaming infrastructure to drive long-term growth. The company’s strategy includes supporting African film industries, expanding digital access, and creating employment opportunities across regional markets.
MultiChoice’s established relationships with African filmmakers, sports leagues, and telecom providers give Canal+ a strong foundation to localise its global media strategy. Despite recent competition from international streaming giants, MultiChoice’s brand loyalty and cultural resonance across the continent remain valuable assets.
A Defining Deal
Analysts describe the Canal+–MultiChoice integration as a defining moment for Africa’s media landscape—one that could reshape the continent’s creative economy and influence how African stories are produced, distributed, and consumed.
With its JSE listing underway, Canal+ is not just acquiring a company; it is cementing its long-term stake in Africa’s fast-evolving digital entertainment market, signaling that the continent is no longer just a consumer base, but a strategic growth frontier for global media.