News
French media giant acquires MultiChoice in $3bn deal, gains full control of DStv, GOtv
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/04/Multichoice.jpg&description=French media giant acquires MultiChoice in $3bn deal, gains full control of DStv, GOtv', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/04/Multichoice.jpg&description=French media giant acquires MultiChoice in $3bn deal, gains full control of DStv, GOtv', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
French media conglomerate Canal+ has officially acquired full ownership of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion (approx. 55 billion rand) deal. The acquisition, which gives Canal+ the remaining 55% stake it did not previously own, was approved by South Africa’s Competition Tribunal on Wednesday, July 23.
The approval comes after months of intense negotiations and regulatory reviews, and paves the way for the deal to be finalized by October 8, 2025. While the Tribunal gave the green light, it imposed several public interest conditions to protect local content and maintain South Africa’s media sovereignty.
For Canal+, the deal represents a major strategic expansion into Africa’s booming media and entertainment market. Already operating in 25 African countries with over eight million subscribers, Canal+ is now positioned to significantly scale up its presence, targeting 50 to 100 million subscribers across the continent in the coming years.
MultiChoice, Africa’s largest pay-TV broadcaster, brings more than 14.5 million subscribers in 50 sub-Saharan African countries, as well as flagship platforms like DStv and GOtv. The company is also home to premium content brands such as SuperSport, making it an attractive acquisition for the French media powerhouse.
Describing the deal as transformative, Canal+ CEO Maxime Saada said: “The combined group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies.”
One of the key benefits of the merger is the integration of Canal+’s French-language content with MultiChoice’s dominant English and Portuguese offerings—creating a multilingual media powerhouse capable of serving diverse African audiences.
Beyond strategic value, the acquisition is also a timely boost for MultiChoice. The deal is expected to inject fresh capital into the South African broadcaster, enabling deeper investment in local content production, technology upgrades, and digital innovation.
As part of the Competition Tribunal’s conditional approval, Canal+ has committed to spend approximately 26 billion rand over the next three years on initiatives aligned with South Africa’s public interest objectives. These include retaining MultiChoice’s headquarters in South Africa, maintaining investment in local content and sports broadcasting, and supporting local content creators.
In a joint statement, both companies reaffirmed their commitment to the South African media ecosystem: “We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success.”
Canal+ began its takeover bid in 2023 with a mandatory buyout offer of 125 rand per share, valuing MultiChoice at around $3 billion. With full ownership now secured, the French media giant is poised to redefine Africa’s pay-TV industry, tapping into its vast potential and shifting the competitive.
The Nigerian naira remained relatively stable against the United States dollar on Tuesday, August 25, 2026, as traders continued to monitor developments in the official and parallel foreign exchange markets.
The latest available Nigerian Foreign Exchange Market (NFEM) data put the naira at about ₦1,346.49 per dollar, while the official closing rate was ₦1,346.90/$ in the most recent confirmed trading session. The Central Bank of Nigeria (CBN) says the NFEM rate is derived from the volume-weighted average of transactions in the official market.
However, a live USD/NGN market benchmark on Tuesday morning was around ₦1,347.26 to the dollar, indicating that the currency was trading close to its recent official-market levels.
In the parallel market, the dollar was quoted at about ₦1,400/$ on Tuesday, according to the latest Aboki Forex data. This puts the street-market premium at roughly ₦53.10 above the latest official closing rate.
At the parallel-market rate of ₦1,400/$, $100 would exchange for about ₦140,000, while $1,000 would be worth approximately ₦1.4 million.
The latest figures show that the gap between the official and parallel markets has remained relatively contained compared with periods of severe foreign exchange volatility.
The naira had strengthened in the official market in recent sessions. On August 21, the NFEM rate stood at ₦1,346.49/$, while the dollar closed at ₦1,346.90. The currency had traded between ₦1,342 and ₦1,348 during that session.
The naira’s recent performance has been supported by improved foreign exchange liquidity and stronger external reserves. CBN data cited in recent market reports showed Nigeria’s external reserves at about $52.66 billion as of August 19.
For Nigerians and businesses buying or selling dollars, the actual rate may vary depending on the bank, Bureau de Change operator, location, transaction size and prevailing market conditions.
Parallel-market quotations are also subject to changes during the day as dollar demand and supply shift.
On your special day, we celebrate *Rt. Hon. TEEJAY YUSUF*
A visionary leader, a political juggernaut, and a man with the fear of God.
Thank you for your uncommon leadership, mentorship, and for being a true benefactor to many.
May God grant you long life in good health, more wisdom, divine protection and greater heights in service to humanity.
Happy Birthday Sir. We celebrate you today and always.
LAGATA CARES!
United States Treasury Secretary Scott Bessent on Monday laid out plans for the “economic asphyxiation” of Iran, expanding Washington’s secondary sanctions threats and warning of dire consequences for countries that decline to join the pressure campaign.
Bessent’s address comes almost six months into a war on Tehran that has ground to a stalemate, with stalled peace talks and Iran preventing most traffic through the crucial Strait of Hormuz.
“Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” Bessent told a press conference.
“We are going to hold everyone accountable, and this is economic asphyxiation of this regime.”
He added that countries not joining US sanctions would “share in the isolation” of Iran, and noted that Trump is making phone calls to world leaders with requests to stop their interactions with Tehran.
The Treasury Department said Monday that it has “issued determinations against five critical sectors — digital assets, technology, gold, aviation, and shipping — that the Iranian regime uses to try to prop up its failing economy.”
Bessent, meanwhile, vowed that any entity “that facilitates money laundering on behalf of Iran will be removed from the US dollar system.”
Asked if Chinese banks dealing with Iran could be targeted, Bessent said “no one is above the reach of US sanctions.”
The Treasury chief earlier declared that an “economic D-Day” had begun against Tehran, in a column for the Financial Times.
The United States and Israel triggered the Middle East war with a massive wave of bombing against Iran on February 28, sparking Iranian retaliation across the region.
AFP
See Dollar to Naira exchange rate today, August 25,2026
2027 Polls: APC Has A Lot To Tell Nigeians As Achievements – Akpabio (Photos)
*HAPPY BIRTHDAY TO A POLITICAL JUGGERNAUT*
-
News8 hours agoNigerian Council Of Legal Education Bans Atiba University From Offering Law For 10 Years
-
Politics8 hours agoAPC Campaign Council: Meet 14 governors tasked with delivering Tinubu in 2027
-
News21 hours agoJAMB unveils new system, permits candidates to upload their O’Level results from homes
-
Entertainment8 hours agoOgogo’s Burial: Yinka Quadri, wife, Ilaro weep as Nollywood Stars bid Actor farewell
-
News8 hours agoOby Ezekwesili Reveals ‘Only Achievement’ Recorded Under Tinubu
-
News23 hours agoEid El Maulud: Akpabio Felicitates Muslims, Seeks Prayers For Peace, Unity
-
News8 hours agoCanada announces recruitment of nurses, dentists, pharmacists, psychologists from Nigeria, other nations
-
News8 hours agoFG excludes Makinde from Ibadan-Ijebu-Ode Road flag-off, Oyo govt reacts
Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49
You must be logged in to post a comment Login