With its current stake, Canal+ is opting to put all its focus on DStv, GOtv, M-Net and SuperSport as mentioned by the brand's CEO a couple months back. This led MultiChoice to make Sanlam a majority shareholder in their insurance company while others like Irdeto and Namola will probably survive as little investment goes into their operation.
Both these companies are seeking to comply with government's cap to foreign ownership and this could lead to MultiChoice giving Canal+ it's ROA business which is home to brands like Africa Magic and Pearl Magic. As Canal+ seeks local partners to manage the licenses of DStv in South Africa.
MultiChoice SA is putting all their focus on Showmax as their consumer base on DStv plummets hoping to extend its reach to 50 million households by 2028. It's likely that Canal+ will manage their pay-tv operations and serve as a collaborator of some sort to Showmax.
Ideally, it doesn't really seem impossible for them to own these platforms rather than the bulk of channels under their belt which include SABC News and Moja Love as the license holder would be in charge of those brands. If anything, one could imagine Showmax getting spun off into a standalone company.
Right now, neither MultiChoice SA or Showmax can survive without the income coming from DStv which is why they're hoping to skyrocket the number of platforms for the streamer. Although subscriber numbers have yet to be unveiled it has been estimated that Showmax has around 500000 to 3 million subscribers.
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