Comcast, Paramount May Wind Down SkyShowtime European Streaming Joint Venture
SkyShowtime Joint Venture Faces Uncertain Future
Sept 14 (Reuters) - Comcast's NBC and Paramount Skydance are considering winding down their SkyShowtime joint venture, which streams shows and movies in European markets, according to a letter reviewed by Reuters on Monday.
Key Details of the Potential Wind Down
Here are some details:
Strategic Options Under Consideration
• The SkyShowtime board wrote to CEO Monty Sarhan on Monday that it is considering strategic options for the business, including shutting down the platform, amid a competitive and challenging market, according to the letter.
SkyShowtime's Market Presence
• SkyShowtime, which launched in 2022, is available in 22 European markets, including Spain, Portugal, Denmark and Sweden.
Internal Communications and Employee Support
• Sarhan shared the board letter with employees along with his own memo, which was reviewed by Reuters.
CEO's Message to Employees
• "I know this news creates uncertainty and, as we work through what comes next, my priority and that of the leadership team, is to be there and support all of you," he said in the memo.
Media Coverage
• The Hollywood Reporter and Bloomberg News earlier reported the development.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Tasim Zahid)
