Canal+ S.A., a sprawling media and entertainment company controlled by French billionaire Vincent Bolloré, has launched a major expansion in the African market. In late September, Canal+ finalized the acquisition of South African company MultiChoice, the leading paid TV provider in English- and Portuguese-speaking Africa. Valued at €2.5 billion, it’s touted as the largest buyout in the history of Canal+.

The MultiChoice takeover puts Bolloré in a commanding position in a market destined for considerable growth in the coming years. With upward of eight million Canal+ subscribers in Francophone Africa, the company will add some twenty million paying MultiChoice users, most notably in South Africa and Nigeria. To that, it can add a web of partner news and entertainment channels and a near-monopoly on sports competition broadcasting: Canal+ anticipates reaching more than one hundred million subscribers in coming years, cementing its lead over Chinese-owned competitor StarTimes, which counts roughly thirteen million subscribers.

For Canal+ executives, the deal is key to building a global media company able to compete against American corporations like Netflix or Disney. “Our combined company is unique, a true global media and entertainment powerhouse,” said Canal+ CEO and longtime Bolloré confidante Maxime Saada in a September 22 press release.