S.Africa's MultiChoice TV, NBCUniversal to invest $177 million in Showmax

The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza, formerly known as the GE building, in midtown Manhattan in New York July 1, 2015. Comcast Corp, the owner of NBCUniversal, said on April 28, 2016, it would buy DreamWorks Animation SKG Inc for $3.8 billion in cash. REUTERS/Brendan McDermid/File Photo

JOHANNESBURG (Reuters) - South African pay TV company MultiChoice Group and U.S. media conglomerate Comcast's NBCUniversal Media will invest about $177 million in Showmax's video streaming platform during its current financial year, they said on Thursday.

Last year Africa's biggest pay TV entered a partnership with Comcast’s NBCUniversal and Sky to revamp MultiChoice's existing Showmax streaming service, which is being built on NBCUniversal's Peacock streaming platform.