NBCUniversal, a major American media company, is set to acquire a 30% stake in Showmax, the streaming video entertainment service offered by MultiChoice Group, in a bid to create the top streaming platform in Africa. The deal includes technology supply and new content for Showmax subscribers and is a collaboration between NBCUniversal sister company Sky, both of which are owned by Comcast. MultiChoice will retain a 70% stake in Showmax following the transaction, with NBCUniversal holding an indirect 23.7% stake in the local subsidiary in Nigeria. The deal deepens an already strong relationship and builds on the Sky Glass technology partnership.
MultiChoice stated in a press release that “Showmax subscribers will have access to an extensive premium content portfolio, bringing African audiences the best of local and international programming”. The new venture will combine MultiChoice’s increased investment in local content with a range of critically acclaimed international content licensed from NBCUniversal and Sky, third-party content from HBO, Warner Brothers International, Sony, among others, as well as live English Premier League football.
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The CEO of MultiChoice Group, Calvo Mawela, said that the deal provides “a great opportunity for our Showmax team to scale even greater heights by working with a leading global player in Comcast and its subsidiaries”. Further information about the new Showmax service, such as the launch date, pricing, and content, will be revealed at a later time, according to MultiChoice.