Canal+ to discontinue Showmax after MultiChoice takeover
French media group Canal+, the new owner of MultiChoice, has announced plans to discontinue the Showmax streaming service after a review of the company’s digital operations. In a statement, MultiChoice said the Showmax board approved the shutdown because the platform’s heavy annual losses had become unsustainable in an increasingly competitive and capital intensive global streaming market. The company explained that, instead of continuing to fund Showmax, it will redirect resources into building a new large scale in house streaming platform aimed at both African and international audiences. Details of the new service and launch date will be announced later. Subscribers were informed about the planned discontinuation by email, with Showmax saying the move is intended to ensure long term sustainability and more efficient investment under the enlarged Canal+ MultiChoice group. MultiChoice and Canal+ stressed that no job losses are expected […]