The French group Canal+ signs a historic $3 billion deal with the South African company MultiChoice

Between France and sub-Saharan Africa, the landscape of platforms, fiction, entertainment and streaming is changing.

Canal+ is a French subscription group (pay television and app-based services), present in more than 70 countries. It is headed by Maxime Saada and operates within the media ecosystem associated with Vincent Bolloré.

The deal, valued at around $3 billion, allows Canal+ to take control of MultiChoice, a South African player that dominates pay television across much of Africa with DStv (premium offering) and GOtv (more accessible offering).

MultiChoice owns Showmax, its recently relaunched but loss-making streaming platform. Canal+ has already indicated its intention to review its business model, as Showmax is the natural gateway for converting TV subscribers to app-based viewing.

Canal+ is also aiming for significant synergies: around 150 million euros in annual savings from 2026, and more than 400 million euros per year from 2030. The idea is simple: to pool technology, suppliers and part of the costs, in order to invest more effectively in the digital offering.

In terms of content, the benefits are twofold. Canal+ brings its powerful production and distribution capabilities for fiction, notably through STUDIOCANAL. MultiChoice contributes a significant volume of African fiction and a local commissioning system, with a streaming platform via Showmax. The agreement can therefore accelerate the circulation of series between Africa and Europe, leveraging an existing subscriber base.

“The key issue is distribution,” summarized Gérald-Brice Viret, head of programming and channels at Canal+ France, on January 16, 2026, regarding the battle between channels and platforms. After losing C8’s terrestrial broadcast frequency, which the group deemed “unfair” and “political,” Canal+ is therefore strengthening its international presence and streaming services: a way to rebound in areas where public access is less dependent on a national frequency.

Sources:

• Reuters – January 29, 2026

• Business Insider Africa – January 29, 2026

• Broadband TV News – January 29, 2026

• CB News – January 29, 2026

• BFM TV – January 29, 2026

• The Media Leader – January 16, 2026