French media giant Canal+ has taken effective control of MultiChoice Group (MCG), the owner of DStv and GOtv, after all conditions for its long-awaited takeover were fulfilled.

Canal+ and MCG announced that, as of Friday, 19 September 2025 is now unconditional after the Takeover Regulation Panel confirmed compliance with South Africa’s Companies Act.

The settlement process is now set to begin, the group said in a statement.

The group said:

"Subject to the Takeover Regulation Panel issuing a compliance certificate in respect of the Canal+ offer in terms of section 121(b) of the Companies Act, which is expected imminently, the settlement process in connection with the offer will now commence."

Businesstech reports that as of the close of business, Canal+ directly held 46% of MCG shares, excluding treasury stock, with another 2.2% already tendered.

MultiChoice was founded in 1994 as M-Net’s satellite division and has dominant pay-TV provider in Africa for three decades.

Multichoice said:

“Canal+ is therefore in effective control of MCG. all is agreed"

Canal+ takes over Multichoice

Multichoice acquisition marks the largest transaction ever undertaken by Canal+, creating a combined group serving over 40 million subscribers across nearly 70 countries in Africa, Europe and Asia, with about 17,000 employees.

In South Africa, Canal+ pledged to support small and historically disadvantaged businesses in the audiovisual sector, while maintaining investment in locally produced entertainment and sports programming. Subscription and billing for customers will remain unchanged.

Already, new leadership has been announced for the next phase.

The merger brings sweeping changes to MultiChoice’s leadership.

Reuters report that Canal+ executive David Mignot takes over as CEO, with Nicolas Dandoy as CFO. Maxime Saada, CEO of Canal+, will chair the new MCG board.

Outgoing CEO Calvo Mawela, who resigned alongside other directors on September 22, will chair Canal+ operations in Africa.

Former CFO Timothy Jacobs will retain a senior finance role within the enlarged group.

Saada said:

“Our combined company is unique, a true global media and entertainment powerhouse.

“This combination increases our ability to invest in creative and sporting content throughout Europe, Africa and Asia.”

Canal+ meets South Africa's demands

To comply with South Africa’s broadcasting laws, MultiChoice has established a new subsidiary, MultiChoice Proprietary Limited, to hold its broadcasting license.

The move ensures foreign control limits under the Electronic Communications Act are observed, even as Canal+ now holds full voting rights in MCG.