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# CANAL+ edges closer to MultiChoice buyout after key South African approval
- URL: https://www.techloy.com/canal-edges-closer-to-multichoice-buyout-after-key-south-african-approval/
- Published: 2025-07-24T13:51:01.000Z
- Updated: 2025-07-25T02:22:31.000Z
- Description: After a year of rejections, financial losses, and regulatory hurdles, the tides may finally be turning for one of Africa’s biggest media takeovers.
- Author: Kelechi Edeh
- Tags: / News, TV, / Entertainment, CANAL+, Multichoice

At the start of 2024, [MultiChoice](https://www.techloy.com/tag/multichoice/) looked like it could hold its ground. The South African media giant had just relaunched its streaming service [Showmax](https://www.techloy.com/tag/showmax/), partnered with Comcast, and wasn’t shy about calling CANAL+’s $1.7 billion bid “too low.” Back then, it still had leverage and confidence.

But confidence doesn’t last long in a market where the numbers keep slipping.

By July 2025, the situation had changed. MultiChoice had lost over a million subscribers across Africa. In Nigeria, one of its most lucrative markets, it saw a 44% earnings dip, driven by currency volatility and viewers [who couldn’t justify rising costs](https://www.techloy.com/dstv-and-gotvs-constant-price-increases-in-nigeria-are-a-recurring-theme/). Piracy didn't help either, with more than two million illegal streams eroding its core business. And in May, the company posted a headline loss of R800 million (around $45 million).

So, when French media giant [CANAL+](https://www.techloy.com/tag/canal-plus) returned with a revised offer—R125/share, up from the original R105/share, valuing the company at $2 billion—the resistance was quiet. Too quiet.

This week, South Africa’s Competition Tribunal approved the deal, following an earlier nod from the Competition Commission. The conditions are clear: no layoffs for three years, a new locally-owned “LicenceCo” to hold MultiChoice’s broadcast licenses, and a R26 billion (\~$1.4 billion) commitment toward local content, small businesses, and HDP (historically disadvantaged persons)-owned entities.

### Has MultiChoice officially agreed to the buyout? 

Not yet. But it also hasn’t pushed back, and that says a lot. CANAL+ already owns more than 40% of the company. Once it crossed the 35% threshold, it triggered a mandatory buyout under South African law. The regulatory approvals are stacking up, and the October 8 deadline to close the deal is getting closer. All that’s left is approval from ICASA to transfer MultiChoice’s license to the newly formed LicenceCo.

For CANAL+, this is more of an expansion strategy than just a media acquisition. The company dominates Francophone Africa, and with this deal, it gains access to 19.3 million subscribers across 50 countries — plus infrastructure, local content studios, and a platform in Showmax that, with enough investment, could stand toe-to-toe with Netflix and Amazon Prime.

And it’s already making moves. In June, CANAL+ became the first African pay-TV provider to [bundle Netflix in 24 French-speaking countries](https://www.techloy.com/canal-to-offer-netflix-content-to-20-francophone-african-countries/). It’s also picked up stakes in local producers like Senegal’s Marodi TV and positioned itself as a one-stop content aggregator for African viewers.

MultiChoice, once the gatekeeper of Africa’s TV market, now looks, to me, more like a bridge — one that CANAL+ is preparing to cross. Whether it’s ready or not.

[MultiChoice Rejects Canal+’s Acquisition Offer — plus other African storiesHere are the top stories in Africa and the Middle East region we are covering today – February 6, 2024.![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/icon/techloy-avatar-1-2834.png)TechloyEmmanuel Oyedeji![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/thumbnail/photo-1584905066893-7d5c142ba4e1-1-3.jpeg)](https://www.techloy.com/multichoice-rejects-canal-s-acquisition-offer-plus-other-african-stories/)