By Chantelle Muzanenhamo
DStv is on the verge of a major ownership transition after South Africa’s Competition Commission approved a R26 billion takeover by French media giant Canal+.
The approval, announced on 21 May 2025, marks a milestone in a deal that will see Canal+ acquire MultiChoice Group Limited, the company behind DStv, Showmax, and SuperSport across Sub-Saharan Africa.
The Competition Commission’s decision came after an extensive review process that lasted several months.
In a statement, Deputy Commissioner Hardin Ratshisusu said, “The Commission is satisfied that the conditions attached to this merger sufficiently address the concerns raised during the investigation. The matter is now before the Tribunal for a final determination.”
Canal+, owned by the French media conglomerate Vivendi, filed its merger application on 30 September 2024. While the acquisition will impact MultiChoice’s operations across Africa, the focus of the review was primarily on its activities within South Africa.
The Commission has recommended approval of the deal, but with important conditions designed to safeguard public interests.
“The proposed transaction is unlikely to substantially lessen or prevent competition in any market,” the agency stated.
Canal+, a major producer and distributor of audiovisual content worldwide, currently supplies content to MultiChoice, which is listed on the Johannesburg Stock Exchange (JSE). MultiChoice owns various subsidiaries including Showmax, SuperSport, and DStv Media Sales.
A key aspect of the deal is the carve-out of LicenceCo, the entity responsible for DStv broadcasting, which will remain separate from the acquisition but continue its content supply arrangements.
The merged company will continue operating from South Africa and contribute to local industry through initiatives supporting suppliers, skills development, and sports programs. Additionally, Canal+ and MultiChoice have pledged to maintain diversity in news programming on DStv, with a focus on sourcing local news content.
The parties have also agreed to public interest commitments valued at approximately R26 billion over the next three years.
“These commitments include: Ongoing investment in South African audiovisual productions, promoting local content internationally, expanding the export of South African media products, Supporting small, medium, and micro enterprise (SMME) content creators and suppliers and the Competition Commission further announced that the merged entity plans to pursue a secondary inward listing on the JSE, which could attract additional investment into South Africa’s media sector,”the statement read.
The final decision now rests with the Competition Tribunal. If approved, the deal could reshape the landscape of pay-TV and streaming services in Africa, strengthening Canal+’s regional presence and expanding the global reach of African content.