NBCUniversal takes 30% stake in restructured Showmax
American media giant NBCUniversal is acquiring a 30% stake in Showmax, the streaming video entertainment offering in the MultiChoice Group stable, as part of a plan to build the leading streaming platform in Africa.
The agreement, which includes NBCUniversal sister company Sky – both firms are owned by Nasdaq-listed media giant Comcast — includes the supply of technology as well as new content to Showmax subscribers.
MultiChoice will retain a 70% stake in Showmax following the conclusion of the del (in Nigeria, NBCUniversal will hold an indirect 23.7% stake in the local subsidiary). Terms were not disclosed. Showmax was launched in 2015.
“Powered by Peacock’s leading, globally scaled technology, Showmax subscribers will have access to an extensive premium content portfolio, bringing African audiences the best of local and international programming,” MultiChoice said in a statement on Thursday.
“The service will combine MultiChoice’s accelerating investment in local content with a pipeline of award-winning and critically acclaimed international content licensed from NBCUniversal and Sky, third-party content from HBO, Warner Brothers International, Sony and others, as well as live English Premier League football.”
MultiChoice Group CEO Calvo Mawela said in the statement: “This agreement represents a great opportunity for our Showmax team to scale even greater heights by working with a leading global player in Comcast and its subsidiaries. The new business venture deepens an already strong relationship and builds on the Sky Glass technology partnership that we announced in September last year.”
Watch: MultiChoice CEO on 4K, DStv Glass and the future of pay TV
Further details about the new Showmax service, including launch date, content and pricing, will be announced at a later date, MultiChoice said. – © 2023 NewsCentral Media
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