In December, we reported that streaming TV services Max and Paramount Plus were in serious discussions of combining efforts. The companies have been considering a merger that would allow them to better compete with Disney Plus/Hulu and Netflix. This could mean merging the Max and Paramount Plus services into one super streamer.
It’s an interesting prospect, but it doesn’t look like it’s going to happen now: the talks have been stalled. Shares of Warner Bros. Discovery fell 10% last week after missing revenue targets and is nearing a 52-week low, while Paramount Global is also nearing a 51-week low as it awaits an earnings report.
But Paramount still has potential buyers. Media mogul Byron Allen has already offered $14 billion for the company, although there are already cases of trades without a stack purchase in his history. While Comcast is not interested in buying the company outright, it is still working with bankers to explore a potential commercial partnership with Paramount Global. That could mean combining Comcast’s Peacock service with Paramount Plus. Another potential partner or buyer, Skydance Media, is also apparently still interested, although the details of the talks are not yet known.
Paramount is one of the most famous entertainment brands in the US, which includes Hollywood Studios, CBS and many other famous brands. But as a legacy business that still relies heavily on network TV, cable TV and movie theaters, it has struggled in the streaming era and was particularly hit by the COVID pandemic, bad decisions and underinvestment in the 2010s and is in need of significant investment. According to analysts, the most likely deal between Skydance and Paramount is the process of negotiating terms.
Paramount may bundle Showtime with its Paramount+ streaming service
Sources: Techradar, CNBC, LA Times
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