Comcast and Paramount Skydance consider shutting down SkyShowtime
In Singapore, Channel NewsAsia, citing Reuters, reported that Comcast's NBC and Paramount Skydance are considering ending the operations of their joint streaming platform SkyShowtime. The service streams series and films in European markets.
Strategic options
SkyShowtime's board of directors sent a letter to the company's CEO, Monty Sarhan, on September 14. According to the letter, which Reuters reviewed, the board is considering strategic options for the business, including shutting down the platform.
A competitive and challenging market was cited as the reason for the review. The letter refers to working through possible next steps for the joint venture of Comcast and Paramount Skydance.
More current news is available on the UA.News Telegram channel Telegram.
Service operations
SkyShowtime was launched in 2022. The platform is available in 22 European markets, including Spain, Portugal, Denmark and Sweden.
Sarhan shared the board of directors' letter with employees along with his own message, which Reuters also reviewed. In it, he acknowledged that the news creates uncertainty and said that the leadership team would support employees while the company determines its next steps.
The Hollywood Reporter and Bloomberg News had previously reported on possible changes at SkyShowtime.
