DStv is currently facing streaming showdown as Netflix and Paramount battle for Warner Bros. Discovery’s Global Assets.
NaijaOnPoint Nigeria reports that high-stakes Hollywood battle with global consequences is unfolding as Netflix and Paramount Global compete fiercely for Warner Bros. Discovery’s (WBD) international streaming and TV assets. The multibillion-dollar deal could dramatically reshape Africa’s media landscape which may place DStv, MultiChoice’s flagship pay-TV platform, directly in the line of fire.
As the streaming wars intensify and legacy media giants race to consolidate, the outcome of this bidding contest could determine who controls some of the world’s most valuable content pipelines and who gets left behind.
Warner’s Strategic Reset: Why the Sale Matters
Warner Bros. Discovery formed in 2022 through the merger of WarnerMedia and Discovery Inc. has struggled under the weight of roughly $40 billion in debt. With growth slowing on its Max streaming platform, the company announced in late 2024 that it would sell its international operations as part of a global downsizing.
The assets up for sale include:
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Linear TV channels
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Content licensing rights
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International streaming feeds across Europe, Asia, Latin America, and sub-Saharan Africa
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A deep library of premium IP, from House of the Dragon and The Last of Us to The Matrix, Dune, and Discovery’s unscripted shows
In Africa alone, WBD reaches over 50 million households and generates an estimated $500 million annually through licensing and advertising. While CEO David Zaslav calls the sale a “strategic reset,” analysts say it’s a push to satisfy Wall Street after years of financial strain.
Netflix vs. Paramount: A Bid for Global Dominance
Netflix, with 280 million global subscribers, is aggressively pursuing the deal as a way to strengthen its dominance in emerging markets like Nigeria and South Africa. The company has reportedly offered around $4.5 billion, banking on its powerful tech infrastructure and data-driven recommendation engine.
“This isn’t just about content; it’s about owning the pipeline to the next billion viewers,” a leaked Netflix memo reportedly stated.
Paramount Global, backed by Skydance Media, has responded with a $4.2 billion bid. Still recovering from a failed merger attempt with Warner earlier in 2025, Paramount is pitching the deal as a “content fortress” built on CBS, MTV, and Nickelodeon. But insiders say Paramount is also fighting for survival—without WBD’s assets, its international expansion could stall.
DStv Caught in the Crossfire
For DStv, the stakes could not be higher.
The platform, which has 20 million subscribers across Africa, relies heavily on Warner content. Roughly 40% of its premium revenue comes from channels like:
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HBO
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Cartoon Network
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CNN International
As cord-cutting has accelerated and Netflix’s cheaper plans attract more African viewers DStv has already lost three million subscribers between 2022 and 2024.
A Netflix victory could be devastating. The company has little incentive to continue licensing Warner content to linear TV providers. Instead, it would likely pull those shows onto its own platform.
“Integration means migration,” says Darren Lurie of Avation Media. “If Netflix wins, DStv loses its biggest content draw and subscribers may shift to Netflix’s $9/month plan.”
Rumors of the bid caused MultiChoice’s stock to drop 7% in November 2025, wiping out $200 million in market value.
A Paramount win might offer temporary relief. Paramount may honor existing distribution agreements to stabilize its African footprint. But the company’s heavy debt load could still push it to renegotiate terms, squeezing DStv’s already tightening margins.
MultiChoice CEO Calvo Mawela says the company is “focused on hybrid models blending linear and streaming,” but internal sources say the broadcaster has begun lobbying regulators in Lagos and Johannesburg out of fear that Netflix could dominate too much of the African market.
The Ripple Effect Across Africa’s Creative Economy
The outcome of this deal will reach far beyond subscription numbers.
Warner’s exit threatens partnerships with African production powerhouses like EbonyLife Studios, which co-develops HBO Africa originals. Nollywood filmmaker Kunle Afolayan warns:
“This isn’t just business—it’s about narrative sovereignty.”
Nigerian regulators, including the FCCPC, are already considering rules that would require localized content commitments from whichever company wins the bid.
Meanwhile, MultiChoice is racing to reinvent itself through a revamped Showmax, bolstered by technology from NBCUniversal’s Peacock. But analysts say technical upgrades may not be enough to protect DStv from the fallout of a Netflix-driven content migration.
The Final Act Approaches
With rumors of a possible $5 billion counteroffer from Netflix, the battle is far from over. What is clear, however, is that DStv’s future may ultimately hinge on a corporate showdown taking place thousands of miles away in Los Angeles boardrooms.