The new owner of MultiChoice Group, Canal+, is set to discontinue the streaming platform Showmax as part of a broader cost-cutting strategy aimed at streamlining its operations.

Reports indicate that the decision followed a review of the company’s streaming business, with Canal+ seeking to reduce expenses and optimize investments amid intense competition in the global streaming industry.

Both Canal+ and MultiChoice confirmed the planned shutdown of the service, although they did not disclose a specific timeline. The companies said the platform would be discontinued once ongoing legal and operational processes are completed.

According to MultiChoice, the decision was taken by the Showmax board and aligns with the company’s renewed focus on financial discipline and investment efficiency in a highly competitive and capital-intensive streaming market.

The company also assured that the shutdown would not affect employees working within the unit. Under the acquisition agreement, Canal+ is prohibited from laying off staff for a period of three years.

“The decision to discontinue Showmax services will not involve any retrenchments. The group will be engaging and supporting employees through various transition options,” MultiChoice said in a statement.

Earlier in January, Canal+ Chief Executive Officer Maxime Saada described Showmax as “not a commercial success,” noting during an investor call that the platform had become a significant financial burden for MultiChoice.

Despite the decision, Canal+ said it would continue to invest in premium content, technological innovation, and strategic partnerships to strengthen MultiChoice’s position in Africa’s entertainment market.

“We want to reassure our Showmax subscribers that they are our priority as we evolve our services to deliver a superior streaming experience,” the company said, adding that more details on expanded content offerings and platform upgrades would be announced later.

MultiChoice originally launched Showmax in August 2015 as a pan-African streaming platform designed to compete with global services such as Netflix, Apple TV+, Amazon Prime Video, and Disney+.

In February 2024, the company relaunched the service through a partnership with NBCUniversal, leveraging the technology behind its streaming platform Peacock. The relaunch involved major investments aimed at upgrading the platform’s technology and expanding its content catalogue.

MultiChoice and NBCUniversal jointly injected about $309 million in equity funding into the project, largely targeted at content creation and platform improvements. However, the investments failed to deliver the rapid subscriber growth expected by investors. In its final financial results before the takeover, MultiChoice reported that Showmax’s trading losses had widened by 88 percent, while revenue from the platform declined.

Canal+ completed its acquisition of MultiChoice in September last year in a landmark deal estimated at $3 billion. The transaction created a combined media group serving more than 40 million subscribers across nearly 70 countries in Africa, Europe and Asia. Together, the companies said they employ about 17,000 people globally.

Canal+ added that it will provide a detailed strategic update on the integration, including potential synergies, in the first quarter of 2026. The group plans to focus heavily on local content production, sports broadcasting and digital innovation as it seeks to strengthen its presence in both traditional pay-TV and the fast-growing streaming market.

The company also aims to leverage MultiChoice’s experience in navigating African consumer trends and regulatory environments to expand its operations across emerging markets.

The post Canal+ to Discontinue Showmax After MultiChoice Acquisition appeared first on Tech Digest News.

In a notice to shareholders on Monday, MultiChoice confirmed that Canal+ directly owns 200,030,591 shares, representing 46% of the group (excluding treasury shares), as of September 19, 2025. The deal creates one of the world’s biggest media and entertainment companies, serving over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia, and employing about 17,000 people.

To reflect its new ownership, MultiChoice has reconstituted its board. Canal+ chief executive Maxime Saada now chairs the board, with Elias Masilela appointed lead independent director. David Mignot takes over as CEO, Nicolas Dandoy as CFO, and Jacques du Puy joins as an executive director. Several previous board members, including former CEO Calvo Mawela and CFO Timothy Jacobs, have stepped down but will remain involved in the wider African operations of Canal+.

The group has also aligned its financial year-end with Canal+’s December 31 cycle. MultiChoice will publish interim results for the six months ending September 30, 2025, and audited results for the nine months ending December 31, 2025, before moving fully to the new reporting schedule.

Canal+ CEO Saada hailed the acquisition as a landmark step in building a “global media and entertainment powerhouse,” saying the merger would allow deeper investments in creative and sporting content across Europe, Africa, and Asia.

The deal, approved by South Africa’s Competition Tribunal in July, marks one of Africa’s biggest-ever media mergers and strengthens Canal+’s dominance in the region’s pay-TV market.

The post Canal+ Completes $3bn Acquisition of MultiChoice, Announces Sweeping Board Changes appeared first on Tech Digest News.