French media giant, Canal+, is set to list on the Johannesburg Stock Exchange (JSE) following the completion of its $3 billion takeover of South Africa’s leading pay-TV company, MultiChoice Group Ltd.
The announcement, made on Monday, comes as Canal+ moves to deepen its presence across Africa and strengthen its position as one of the world’s biggest pay-TV and streaming groups.
With the acquisition, the French broadcaster now owns Africa’s largest entertainment network, gaining direct access to millions of households across over 50 countries. The move also marks a new chapter for Africa’s media and creative industries as one of the continent’s most influential broadcasters joins forces with a global powerhouse.
The company stated that the process will begin with MultiChoice’s delisting from the JSE, after which Canal+ will pursue a secondary inward listing by introduction. This will allow South African investors to hold shares directly in the enlarged Canal+ Group, signaling a continued partnership between the company and the African market that built much of MultiChoice’s success story.
Canal+ described the decision as a major step in its global strategy to connect more deeply with African audiences, integrate local expertise into its global framework, and invest in the continent’s growing digital and creative economy.
The merger combines two strong forces in television and streaming, creating a network of nearly 40 million subscribers. With this scale, Canal+ now has the capacity to compete more closely with international streaming giants such as Netflix and Amazon Prime Video.
According to the company, the listing is also a show of confidence in South Africa’s capital market and a signal of its long-term commitment to the continent. It said it would focus heavily on investing in local content, sports broadcasting, and digital innovation to strengthen its operations across Africa.
Industry watchers have described the move as one of the most significant in Africa’s media landscape in recent years. Beyond numbers and valuation, many say it represents a symbolic moment that acknowledges Africa’s creative energy and the growing influence of its stories on the global stage.
For Vivendi SE, Canal+’s parent company, the acquisition marks another milestone in its international expansion plans. Vivendi had listed Canal+ in London last December to drive its global growth, and the forthcoming JSE listing further anchors that vision by positioning Africa as a key hub in its media strategy.
Led by French billionaire Vincent Bolloré, Canal+ already held a 31.7 percent stake in MultiChoice before making an offer of R105 per share in cash, representing a 40 percent premium on MultiChoice’s share price at the time. The bid, valued at approximately $3 billion, was accepted after securing regulatory approval earlier this year.
For decades, MultiChoice has been a household name across Africa, known for building some of the continent’s most loved television experiences through DStv, GOtv, and Showmax. The company has also been a vital supporter of local production through platforms such as Africa Magic and SuperSport. By joining forces with Canal+, it now stands at the center of a new partnership that promises to amplify African content and creative potential to global audiences.
The merger also brings fresh expectations for the continent’s entertainment industry. Analysts believe the deal could open new opportunities for collaboration, funding, and innovation across the creative value chain. It is expected to create stronger competition in the pay-TV and streaming sectors, giving consumers more diverse content options and improving market quality overall.
Observers see the acquisition as more than just a business move. It is viewed as a cultural and creative shift that underlines Africa’s relevance in the global media ecosystem. With its young, tech-driven population and growing appetite for original stories, the continent is increasingly becoming the focus of major international entertainment investments.
Canal+’s expansion through MultiChoice reflects that growing confidence. The French company has expressed its commitment to nurturing local storytelling, supporting filmmakers, and investing in the creative economy that has long defined Africa’s entertainment scene.
As Canal+ prepares to list on the JSE, the partnership stands as a powerful symbol of what collaboration can achieve; a merger between experience and ambition, tradition and transformation, Africa and the world.
The deal may have begun as a corporate acquisition, but for many in the industry, it represents something bigger: a bridge between continents, a platform for shared growth, and a reminder that Africa’s creative future is one the world cannot afford to overlook.
