French media giant Canal+ is advancing plans to secure a secondary listing on the Johannesburg Stock Exchange (JSE), following its successful acquisition of MultiChoice Group Ltd., Africa’s largest pay-TV provider.
In a statement released Monday, Canal+ confirmed it will delist MultiChoice from the JSE and subsequently seek a secondary inward listing by introduction. The move is intended to give South African investors direct access to shares in the newly expanded global media group, a landmark move in African corporate and media history.
MultiChoice, established in 1985, evolved from a small South African satellite TV operation into a pan-African entertainment powerhouse. Through its flagship brand DStv, the company became known for broadcasting English Premier League football, African storytelling, Nollywood content, and more, reaching millions of households across over 50 countries on the continent.
Initially a division of Naspers Ltd., MultiChoice was spun off in 2019 to navigate the rapidly evolving digital media landscape. Now, with Canal+ acquiring full control in a deal estimated at $3 billion, the French firm has cemented its presence in key African markets, including South Africa, Nigeria, and Kenya.
Canal+, a subsidiary of Vivendi SE, sees the African continent as a critical growth frontier. With a youthful, urbanising population and rising internet access, the region presents major opportunities in both traditional broadcasting and digital streaming.
The merger of the two companies will result in a media conglomerate serving close to 40 million subscribers, a scale that positions it alongside global streaming giants like Netflix, Disney+, and Amazon Prime Video.
Canal+ has also announced plans to ramp up investment in African content production, sports broadcasting rights, and streaming infrastructure. These efforts aim to not only grow market share but also stimulate local job creation and support the creative industries.
Despite intensifying competition from international streaming services, MultiChoice’s deep local roots, industry relationships, and regional content knowledge provide Canal+ with a strong foundation to compete effectively across the continent.
