What The Canal+ Takeover Means For Multichoice And DStv Viewers

Multichoice, the parent company of DStv, has officially kicked off a major shake-up to make way for its long-anticipated takeover by French media giant Canal+. The reorganisation is more than a technical shuffle it marks the start of a new era for Africa’s biggest pay-TV operator.

A Takeover Years In The Making

After months of negotiations and regulatory hurdles, Multichoice told shareholders that all conditions set by the South African Competition Tribunal have been met. The Tribunal gave the green light in July 2025, but only after securing a package of commitments that protect local industry players and viewers.

At the heart of the deal is Canal+’s mandatory offer: R125 per share for all outstanding Multichoice stock. Once complete, this will cement Canal+’s control over the group and expand its African footprint dramatically.

Protecting Local Content And Ownership

The Competition Tribunal insisted that South Africa’s broadcasting laws be respected. Foreign companies are restricted from fully owning broadcasting licences, so Multichoice created a special carve-out called LicenceCo. Canal+ will only hold 49% of this company, with just 20% voting rights.

The rest will be in the hands of local shareholders, including Phuthuma Nathi Investments and the Multichoice Workers Trust, ensuring that control of South African licences remains locally anchored.

Crucially, Multichoice has also committed to maintaining funding for South African sports and general entertainment. That’s a relief for local creators who feared foreign ownership could dilute the country’s storytelling on-screen.

Subscribers: No Disruptions, But Big Expectations

Multichoice has repeatedly reassured its 14.5 million customers across Africa 7 million of them in South Africa that the shake-up won’t disrupt their viewing. On the contrary, the company believes Canal+’s backing will improve technology, bring in fresher content, and help DStv compete with global streaming giants like Netflix and Amazon Prime.

This comes at a critical time. Subscriber numbers dropped by 8% in the past year, with almost 1.2 million customers cancelling across South Africa and the rest of the continent. Revenue per user is also slipping, making it clear that the old pay-TV model is under pressure.

CEO Calvo Mawela has pitched the takeover as a lifeline. With Canal+, he envisions a pan-African media powerhouse serving nearly 50 million households, with enough bargaining power to secure blockbuster sports rights and international content at better rates.

and deep pockets.”

What Comes Next

For now, the reorganisation is largely a behind-the-scenes legal and structural exercise. But once Canal+’s takeover is fully executed, the spotlight will shift to delivery. Can Multichoice keep subscribers happy, protect local content, and reinvent itself in the streaming era?

South African viewers may not feel the impact immediately, but the moves being made now could shape what’s on their screens for the next decade.

Source:Business Tech 

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