Paramount and Comcast recently discussed a streaming partnership or joint venture, according to a new report.
Combining Paramount’s streaming service Paramount+ with Comcast’s Peacock, a possibility reported by The Wall Street Journal, could cut costs to both companies on programming and marketing. It could also give customers more streaming options, including Comcast’s portfolio of live sports, which is becoming more expensive.
A joint venture between the two companies would follow that of ESPN, Fox, and Warner Bros. Discovery, which announced this month that they are teaming up on a sports streaming platform set to launch in the fall. Paramount chief executive Bob Bakish had previously discussed a possible merger with Warner Bros. Discovery CEO David Zaslav in December, The Journal has reported. On a call with Wall Street analysts, Fox chief executive Lachlan Murdoch said there were no plans to add additional partners to the sports streaming venture.
National Amusements, which has a controlling stake in Paramount, was reportedly exploring a sale, and both companies have sought options for Paramount. Meanwhile, Comcast CEO Brian Roberts reportedly told investors last month it had no plans to make any major acquisitions soon.
Bakish said in an internal memo to staff Tuesday that the company Paramount is laying off about 800 people, or about 3% of the workforce.
“These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead — and I firmly believe we have much to be excited about,” Bakish wrote in the memo.
Paramount said earlier this week that Sunday’s Super Bowl broadcast was the most-streamed Super Bowl in history, leading to a record audience on its network.