THUR JULY 24 2025-theGBJournal| South Africa’s Competition Tribunal has approved the acquisition of TV broadcaster MultiChoice (MCG) by French media giant Canal+, a deal that is valued at R35 billion ($2 billion).
Both companies announced Wednesday that the Competition Tribunal has approved the Proposed Transaction, subject to agreed conditions which include the implementation of the structure announced on 4 February 2025.
The agreed conditions include a robust package of guaranteed public interest commitments proposed by the Parties.
The package supports the participation of firms controlled by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) in the audio-visual industry in South Africa.
The package will also maintain funding for local South African general entertainment and sports content, providing local content creators with a strong foundation for future success.
MCG had argued at the Competition Tribunal hearing that a merger with CANAL+ would give it the scale required to compete with global streaming giants like Netflix, while reiterating that it considers Netflix its primary rival and described the playing field as uneven.
”The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline,” Maxime Saada, CEO of CANAL+ said.
”It is a hugely positive step forward in our journey to bring together two iconic media and entertainment companies and create a true champion for Africa. I’m excited about the potential this transaction unlocks for all stakeholders, notably South African consumers, creative businesses and the nation’s sporting ecosystem. The combined Group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies,” Saada added.
CANAL+ announced its intention to acquire MultiChoice on the Johannesburg Stock Exchange (JSE), in December 4 June 2024, setting out the terms and conditions of its mandatory offer to acquire all the issued ordinary shares of MCG not already owned by CANAL+, excluding treasury shares, from MCG Shareholders for a consideration of R125.00 per share, payable in cash.
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