French broadcast company Canal+ has made a proposal to acquire MultiChoice, the largest provider of subscription TV services in Africa, including DStv, which is based in South Africa.
Canal+ already owns a 30% stake in MultiChoice and is now offering to purchase the remaining shares for 31.7 billion rand ($1.6bn, £1.3bn).
With over seven million subscribers across 25 African countries, Canal+ is the leading TV operator in French-speaking Africa. This potential acquisition promises to turn MultiChoice’s fortunes around by creating a “group with significant scale, putting MultiChoice on a secure long-term path and enabling the company to thrive,” according to Canal+.
However, the progression of the purchase is still uncertain “at this stage.”
MultiChoice has been facing challenges in recent years, with its main product, DStv, losing thousands of subscribers due to increased competition from streaming services.
The proposed acquisition could have a significant impact on the TV and streaming landscape in Africa, and it’s a story that will be closely watched in the weeks and months to come.
