MultiChoice Group and Comcast’s NBCUniversal Media have promised the investment of $177 million into the Showmax streaming platform.
Last March, MultiChoice sold a 30% stake in Showmax to NBCUniversal, as part of a plan to upgrade the streamer.
The two partners will pump $30 million into the venture in proportion to their holdings. Additional equity funding of $127 is also anticipated to be paid in before the end of MultiChoice’s financial year in March.
Previously the two have provided additional equity funding of $20 million.
This week, French pay-TV giant Canal+ tabled a €2.5 billion bid for MultiChoice as part of a plan to create a large-scale African media company.
Showmax is promising a brand-new look, new app, and entirely new product suite for its relaunch.
The new Showmax will have three plans: Showmax Entertainment, Showmax Entertainment Mobile and Showmax Premier League Mobile.
