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When did Canal+ take over MultiChoice?
As of Monday, 22 September 2025, French media conglomerate Groupe Canal+ has taken control of MultiChoice Group (MCG), marking the end of MultiChoice as it has been known. The takeover became unconditional after Canal+ met the final suspensive conditions of its mandatory offer, triggered when its shareholding exceeded the 35% threshold under South Africa’s Companies Act in early 2024.
Canal+ began acquiring MultiChoice shares in October 2020 with a 6.5% stake, steadily increasing its ownership until it reached 46.0% (200,030,591 shares, excluding treasury shares) by 22 September 2025. An additional 2.2% (9,767,641 shares) have been tendered, solidifying Canal+’s control. The company offered R125 per share for all remaining stock, valuing MultiChoice at R55 billion.
In a significant move, Canal+ replaced MultiChoice’s top management. David Mignot and Nicolas Dandoy, Canal+ executives, have been appointed as the new CEO and CFO of Canal+ African operations, which now includes MultiChoice. They replace Calvo Mawela and Tim Jacobs, who will take on new roles: Mawela as chairman of Canal+ Africa and Jacobs in a senior finance position within the combined group. Maxime Saada, Canal+ group CEO, will chair the MultiChoice board, which has been restructured to include a majority of independent directors, such as Elias Masilela, Adv Kgomotso Moroka, Louisa Stephens, Deborah Klein, and James du Preez. New directors, including Anant Singh, Amandine Ferre, and Mireille Kabamba, will be proposed at an upcoming shareholder meeting.
Canal+ described this as its largest-ever transaction, creating a combined entity serving over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia. In South Africa, Canal+ and MultiChoice have committed to public interest measures, including support for firms controlled by historically disadvantaged persons (HDPs), small and medium enterprises, and continued funding for local entertainment and sports content.
Regarding MultiChoice’s iconic brands—DStv, SuperSport, and Showmax—new CEO David Mignot emphasized sensitivity toward maintaining these brands, particularly praising SuperSport’s regional strength. However, no decisions have been made about potential changes, such as spinning off SuperSport. Canal+ will conduct detailed due diligence and provide a strategic update in Q1 2026. For now, subscription and billing arrangements for MultiChoice customers remain unchanged. So, no, for now, nothing is changed on the side of DSTV customers!
On Showmax, a joint venture with Comcast’s NBCUniversal, Canal+ CEO Maxime Saada noted their existing partnership with Comcast, suggesting no immediate disruptions. However, details about Showmax’s economics and investments remain under review.
This takeover reshapes Africa’s media landscape. Below, we explore why this deal happened, address consumer questions, and outline what’s likely to come next.
What Happened between Canal+ and MultiChoice aka DSTV?
Canal+ exceeded the 35% shareholding threshold under South Africa’s Companies Act, which triggered a mandatory offer to buy out the rest of MultiChoice. Its offer was set at R125 per share for all remaining stock. On 19 September 2025, Canal+ directly owned about 46.0% of the shares (excluding treasury shares), with another 2.2% tendered in, putting Canal+ in effective control. A restructuring (“reorganisation”) to comply with South African regulatory requirements has been completed. One key change is the creation of a company (LicenceCo) to hold the broadcasting licence, ensuring South African control/ownership in line with the Electronic Communications Act.
Why Did the French conglomerate take over DSTV and MultiChoice?
Several pressures and motivations led to the takeover:
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Declining performance and subscriber losses
MultiChoice has been under pressure: it has lost broadcast-subscribers, been hit by the depreciation of various African currencies, and suffered losses particularly in its streaming arm, Showmax. The cost-of-living crisis and macroeconomic headwinds have made it harder for many households to afford pay-TV. -
Strategic expansion by Canal+
Canal+ has wanted to reduce dependency on certain markets, especially French-speaking ones, and to increase its reach in English-, Portuguese-, and other language markets in sub-Saharan Africa. MultiChoice’s portfolio (DStv, GOtv, Showmax, SuperSport, etc.) gives Canal+ scale and footprint in many of those markets. -
Streaming competition and changing viewing habits
The growth of streaming globally (Netflix, Amazon, Disney+, etc.) has challenged traditional satellite/terrestrial pay-TV. MultiChoice’s own streaming platform, Showmax, has shown growth but also heavy losses. Canal+ brings further content libraries, experience, and potentially more capital to compete. -
Regulatory triggers and opportunity
When Canal+’s shareholding crossed the 35% threshold, the law compelled a mandatory offer. Also, regulatory approvals (e.g., from the Competition Tribunal) came with conditions that Canal+ was ready to meet. There was an opening to consolidate media holdings in Africa before more intense competition arrived.
What Consumers Are Asking (and Wanting to Know)
Based on media reports, social media chatter, and consumer forums, here are the key questions consumers are asking, plus what the available information suggests:
| Question | What is known so far / what is likely |
|---|---|
| Will the MultiChoice / DStv brand be dissolved? | Not in the immediate future. Canal+ has said it will be “very sensitive and careful about brands”. Brands like SuperSport, Showmax, DStv are strong and recognized; any rebranding or removal would risk alienating customers. A full brand wipe is unlikely soon. |
| Will DStv and GOtv stay the same, or get integrated with Canal+’s services? | Subscription and billing arrangements are supposed to remain the same for now. Canal+ has committed to maintaining existing brands during a phase of “detailed due diligence” and will provide strategic plans in Q1 2026. |
| What happens to Showmax, especially streaming vs pay-TV? | Showmax remains part of the package. Its growth is noted (44% increase in paying subscribers in one recent period) even though it has been loss-making. With Canal+’s content library and global partnerships (e.g., with Comcast via NBCUniversal), Showmax could get a boost. But costs and competition are real headwinds. |
| Will prices go up or down? | No confirmed announcements yet on price changes. Consumers worry about increased cost of living, inflation, currency depreciation, etc. Given Canal+ is paying a premium for acquisition, there may be pressure to extract more revenue—but public interest commitments and regulatory conditions may limit or delay that. |
| Will internet / streaming be more deeply integrated? | Likely yes. Streaming is increasingly central, especially as fixed and mobile internet access improves. Showmax is already part of MultiChoice’s strategy. Canal+ has experience in streaming and OTT (over-the-top) content. Expect more blending of satellite-TV and streaming offerings over time. However, internet access (bandwidth, data cost) remains a barrier in many markets. |
| Will the broadcasting license (esp. DStv’s licence) be impacted by foreign ownership rules? | Yes; to comply with South African law (the Electronic Communications Act), foreign control is limited. So a restructuring has been done (LicenceCo) to hold broadcast licences and ensure South African control. This means Canal+ cannot simply fully dominate the governance of every part of the business without respecting local regulation. |
| What about content (local vs international)? | Canal+ and MultiChoice have committed to continue funding for local content, sports content, HDS / historically disadvantaged persons, etc. There’s also opportunity to use Canal+’s production arm (StudioCanal) and MultiChoice’s local content to produce more shows regionally. |
| What about quality of service, channel stability, signal, customer support, etc.? | There have been no specific announcements so far. Consumers are concerned about whether the service will worsen (or improve). Given Canal+’s reputation and the need to retain customers, degradation seems unlikely early on, but transitions always carry risks (e.g., migration of platforms, backend changes). |
What exactly is going to happen after the takeover?
Putting together what is known and what consumers are demanding, here are what our editors assess to be the likely outcomes over the next 6-18 months:
- Brands will stay, at least for now: DStv, GOtv, Showmax, SuperSport are too valuable. Rebranding is expensive and risky, especially given current loss of subscribers and shifts in consumer trust. Canal+ will probably preserve them, maybe integrate some Canal+-branding behind the scenes, but not dissolve them outright in the short term.
- Gradual integration, behind the scenes: Backend systems, content acquisition, licensing, content delivery may progressively be centralized or rationalized to reduce costs and improve scale. For example, content deals might be pooled, more content shared across territories, perhaps unified apps or user interfaces in some places.
- More streaming/OTT push: Investment in Showmax and perhaps incorporation of Canal+ streaming content will increase. As internet penetration improves, and as consumers shift preferences, streaming will grow in importance. MultiChoice already lost many satellite subscribers; streaming is likely seen as the growth avenue.
- Regulatory and public interest constraints will shape pricing, ownership structure, local content obligations: Many of the takeover conditions are focused on preserving South African control of licence operations, supporting HDPs (historically disadvantaged persons), and maintaining investment in local content. These will limit what Canal+ can do (esp. regarding rights, price hikes, etc.).
- Potential for dual-mode offerings: For example, hybrid services that combine internet streaming + satellite/terrestrial fallback; apps that let you stream content where internet is available and use DStv / GOtv where it is not. This may depend on local internet infrastructure and data cost.
What Is Uncertain / What Consumers Should Watch For
There are a few big open questions and risks that could affect how things settle:
- Will prices go up significantly? Even though current contracts remain, over time Canal+ may seek better margins. With foreign acquisition premium, currency risk, and cost pressures, consumers may see increases. How large will they be, will they vary by region, and how fast?
- How quickly will streaming overtake satellite/terrestrial? In many African markets, internet access (speed, reliability, cost) is still limited. Thus, DStv/GOtv’s satellite or other traditional delivery may persist for many households. The transition will likely be gradual.
- Will all countries be treated equally? MultiChoice operates in many African countries with widely varying regulatory, economic, and infrastructural environments. What happens in South Africa may differ greatly from what happens in Nigeria, Kenya, Uganda, etc. Local licensing, government policy, tax, import duties, internet cost, etc., will shape outcomes differently.
- What happens to Showmax’s costs and content? Growing streaming business is good, but it’s loss-making; licensing of international content is expensive; there is also competition from global players. Unless Canal+ finds efficiencies, there may be tradeoffs (e.g., fewer niche shows, more selective content, or regional differences in content availability).
- Quality, service continuity, migration issues: Changes to backend infrastructure might cause disruptions; things like decoder updates, rights changes (sports especially), or channel realignments may lead to temporary issues. Consumers should keep an eye on announcements.
What you need to know about the Canal+ vs MultiChoice story
For consumers, the message for now is: not much changes immediately. Your DStv, GOtv, Showmax subscriptions and billing should stay as they are in the short term. The familiar brands will persist. What changes is the ownership and the potential direction: more streaming, more integration, perhaps improved content variety, but also possible pricing pressures.
The takeover by Canal+ marks a consolidation in Africa’s media industry that many saw coming. It represents both opportunity (more investment, content, reach) and risk (costs, loss of local autonomy if not carefully regulated). Whether consumers benefit or suffer will depend largely on how Canal+ balances commercial imperatives with regulatory obligations and local expectations.
Consumers should watch for announcements in Q1 2026, when Canal+ has committed to laying out its detailed strategy for the combined group. If you’re a subscriber, keep tabs on:
- Any changes in your subscription prices or package offerings
- Notices about platform or app changes
- Changes to channel lineups, especially sports or local content
- Anything affecting availability via internet (data usage, streaming options)
- Customer service changes
