French media powerhouse Canal+ announced on Monday that it has officially taken control of South Africa’s MultiChoice, forming a media giant with operations spanning nearly 70 countries across Africa, Europe, and Asia. In a joint statement, both companies revealed that the merged group will employ 17,000 people and cater to over 40 million subscribers. Describing the takeover as “the largest transaction ever undertaken” by Canal+, the company said the deal cements its leadership across Africa’s diverse media markets. Already dominant in French-speaking African nations, Canal+ will now oversee what it called the leading broadcaster in English- and Portuguese-speaking regions of the continent. “This acquisition strengthens our position as a leader in Africa, one of the fastest-growing pay-TV markets globally,” Canal+ CEO Maxime Saada said. The buyout received final approval from South Africa’s competition authority in late July, more than a year after Canal+ tabled its bid. The French company had initially offered 125 rand ($7.20) per share, valuing MultiChoice at about $3 billion. Currently, Canal+ operates in 25 African countries through 16 subsidiaries, with a subscriber base of eight million. MultiChoice, on the other hand, runs services in 50 sub-Saharan countries, serving 14.5 million subscribers through platforms including DStv and Africa’s leading sports broadcaster, SuperSport.