MultiChoice's Canal+ Merger Secures South African Approval

Deal News | May 21, 2025 | EIN

The South African Competition Committee has approved the acquisition of MultiChoice by French media giant Canal+ for $3 billion, marking a major consolidation in the broadcasting industry. The committee has recommended the deal to its sister regulator, the Competition Tribunal, under several conditions to safeguard South Africa's public interest, such as increasing the shareholding of historically disadvantaged persons and enhancing local content and supplier commitments. Furthermore, Canal+ will keep MultiChoice headquartered in South Africa, continuing its corporate social responsibility initiatives, and promoting sports and skills development. The deal encounters several regulatory checks, including the Broad-based Black Economic Empowerment (BBBEE) regulations by Icasa. Upon completion by 2025, MultiChoice will operate as an independent entity under LicenceCo, maintaining South African video entertainment operations. The agreement reflects a commitment to support South Africa’s economic and social framework while fortifying Canal+ position against global competitors in the media sphere.

Sectors

Broadcasting Media
Telecommunications

Geography

South Africa – This geography is relevant as the merger and regulatory conditions are centered on MultiChoice's operations within South Africa.
France – Canal+, being a French company acquiring MultiChoice, represents significant French involvement in the transaction.

Industry

Broadcasting Media – The article pertains to the broadcasting industry due to the merger between Canal+ and MultiChoice, operators in the audiovisual content distribution space.
Telecommunications – The article involves regulatory conditions under the Electronic Communications Act, which governs telecommunications operations.

Financials

$3 billion – The deal value of Canal+'s acquisition of MultiChoice.
$1.4 billion – Projected value of public interest commitments over the next three years post-merger.

Participants

Name	Role	Type	Description
MultiChoice	Target Company	Company	South Africa-based video entertainment and broadcasting company.
Canal+	Bidding Company	Company	French media and content distribution giant seeking to acquire MultiChoice.
Competition Committee South Africa	Regulatory Body	Government	South African body responsible for approving mergers and acquisitions.
Icasa	Regulatory Body	Government	Independent Communications Authority of South Africa involved in overseeing broadcasting laws.
LicenceCo	New Entity Post-Merger	Company	Proposed independent entity to hold South African licenses post-acquisition.
Competition Tribunal	Final Decision Maker	Government	South African body that makes final decisions based on the Competition Committee’s recommendations.