Paramount Global & Comcast explore streaming deal, report claims

Bob Bakish (Source: MIPCOM)

Paramount Global has held talks with NBCUniversal (NBCU) parent Comcast about a potential joint streaming operation, according to the Wall Street Journal.

The US outlet reported that a streaming partnership or a joint venture between Paramount+ and NBCU’s Peacock were among options discussed although there is scant detail and talks are at an early stage.

Paramount has already partnered with Comcast for streaming in Europe via its Skyshowtime service, available in selected regions.

That service, led by CEO Monty Sarhan, recently commissioned its first Polish original with an adaptation of the crime novel Sleboda. 

The news comes just weeks after Disney’s ESPN, Warner Bros. Discovery (WBD) and Fox joined forces to launch a new sports streamer aimed at reasserting the companies’ positions within the US streaming landscape.

The trio will create a joint venture service that will house a raft of sports rights held by the companies, ranging from the NFL and NBA to Major League Baseball, Formula 1, the FIFA World Cup and numerous college sports.

Details around the streamer – including its name and price – are yet to be revealed but the service will offer TV channels such as ESPN, Fox, Fox Sports and TNT, in addition to a streamed offering.

Disney, WBD and Fox will own equal shares in the JV, which has been slated to launch this autumn ahead of the next full NFL season.

Paramount, meanwhile, recently laid off 800 staff after CEO Bob Bakish outlined plans to shift its strategy to focus more tightly than ever on “Hollywood hits” and to produce fewer local, international originals as it seeks to drive earnings growth and profitability for its streaming services including Halo and Yellowstone SVOD Paramount+.