MultiChoice has received the final regulatory green light from South Africa’s Independent Communications Authority (ICASA) for its R55 billion ($3.17 billion) acquisition by French media giant Canal+.
The approval allows the transfer of Orbicom’s spectrum and electronic communication licences, a crucial step toward Canal+ gaining full operational control.
The ICASA approval, granted on 28 August 2025 and made public on 18 September, covers Orbicom’s I-ECNS, I-ECS, and Radio Frequency Spectrum licences. This enables Canal+ to operate networks, roll out services, and use allocated frequencies across South Africa.
Commenting on the development, a Canal+ spokesperson said, “This approval marks a significant milestone in our commitment to Africa. We are excited to bring high-quality content to millions of households while supporting local ownership and employment.”
The regulator confirmed that its decision took into account consumer interests, competition, and equity requirements, noting that 40% of Canal+ shareholding in South Africa is reserved for Historically Disadvantaged Persons (HDPs).
To comply with local ownership rules, MultiChoice is restructuring its South African operations into a new entity, LicenceCo, which will be majority-owned by HDPs and workers. R1.375 billion in dividends has been set aside for shareholders as part of this restructuring.
Analysts believe the takeover positions Canal+ to become a dominant force in Africa’s pay-TV and streaming industry by combining MultiChoice’s DStv, Showmax, and infrastructure with Canal+’s international content offerings.
“We are creating a broadcasting and streaming powerhouse that will compete effectively with global players like Netflix and Amazon Prime,” a MultiChoice executive added.
With approvals from ICASA, the TRP, JSE, and Financial Surveillance Department nearly complete, the deal is now in its final stretch, heralding a new chapter for Africa’s media landscape.
