Paramount Global and Comcast enter into cable transport pact | Trending Viral hub

[ad_1]

global paramount has closed a deal that is crucial to its future, but it is not the transaction that Wall Street has been talking about for a few weeks.

Paramount Global and Comcast have expanded the broad broadcast deal that covers Paramount cable channels and CBS-owned stations. The pact avoids the prospect of a blackout for CBS stations and Paramount channels on Comcast’s cable systems, which reach approximately 14.5 million video subscribers and 29 million broadband subscribers.

A Paramount spokeswoman confirmed early Saturday that the deal had been completed, but did not provide details. The deal covers “Paramount’s leading portfolio of entertainment, news and sports channels and apps on (Comcast’s) Xfinity platforms.” It is understood to be essentially an extension of the agreement the parties reached in January 2022.

Strengthening the contract with the country’s largest cable operator is important for the long-term financial health of Paramount Global. It also comes as Paramount Global has been the subject of M&A rumors for several weeks with suitors such as Skydance Media and Warner Bros. Discovery circling the owner of Paramount Pictures, Paramount+, CBS, MTV, Nickelodeon, VH1, Comedy Central, BET Networks and others. channels. Comcast itself is also seen as a possible contender if Paramount Global Chairman Shari Redstone decides the time is right for a transformative deal for the media assets that her father, Sumner Redstone, assembled in the 1980s. and 1990.

Although the deal is an extension, the terms will still be carefully studied as an indicator of what kind of profits legacy media giants can still make from linear cable, even as the majority of the industry’s resources and creative energy are directed to the construction of new streaming platforms. Paramount Global has had an uphill road amid rapid changes in the pay-TV ecosystem over the past decade.

Comcast is also the parent company of NBCUniversal, putting that conglomerate at the center of cord-cutting-driven changes among traditional cable subscribers. Comcast, Charter Communications and other large cable operators are increasingly focused on developing residential and business broadband services that can offer subscribers easy access to a broad menu of streaming services, FAST channels and more.

[ad_2]

Check Also

Celine Dion poses without a bra in the ‘Vogue France’ photo shoot – Hollywood Life | Trending Viral hub

[ad_1] See gallery Image credit: Cass Bird/Vogue France Celine Dionthe last Vogue France The photoshoot …

Celine Dion talks about the ‘work’ of living with her illness – Hollywood Life | Trending Viral hub

[ad_1] See gallery Image credit: Cass Bird/Vogue France Celine Dion He has always been a …

Kelly Osbourne denies taking Ozempic, remembers her mom Sharon did it – Hollywood Life | Trending Viral hub

[ad_1] See gallery Image credit: Matt Winkelmeyer/Getty Images for The Recording Academy Kelly Osborne set …

Leave a Reply

Your email address will not be published. Required fields are marked *