What next?
Taken in a vacuum, the news didn’t come as a complete shock. There’d been a sense of foreboding since the French media giant completed its $2 billion takeover of South African pay-tv company MultiChoice last year, with the company mum on its post-merger plans and suspicion rampant that cost-cutting measures were in the cards.
Showmax, a loss-making streamer that was a direct competitor of Canal+’s own SVOD service in Africa, was a logical target. Since relaunching the platform in 2024 with NBCUniversal, MultiChoice and its Comcast partner poured a combined $309 million in equity funding into Showmax to primarily fuel content creation.
In the end,…
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