MultiChoice Group and Comcast-backed NBCUniversal to form Showmax.

Media companies MultiChoice Group and Comcast-backed NBCUniversal agreed to form Showmax, a video on demand platform. The new Showmax group will be 70% owned by MultiChoice and 30% by NBCUniversal. Financial terms were not disclosed. “We launched Showmax as the first African streaming service in 2015 and are extremely proud of its success to date. 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. We believe we are extremely well positioned to create a winning platform going forward," Calvo Mawela, MultiChoice CEO.