Paramount Global recently held talks with Comcast about working together on a streaming deal. wall street journal reported on Friday, citing people familiar with the matter.
According to the report, the two companies discussed a streaming partnership or joint venture between Paramount+ and Peacock, among several strategic options that Paramount was pursuing.
The development comes after Fox, Walt Disney Co.’s ESPN and Warner Bros. Discovery announced earlier this month that they would launch a joint sports streaming service from a broad portfolio of professional and college sports rights.
Comcast and Paramount declined Reuters’ requests for comment.
Paramount has been pouring money into its fast-growing but unprofitable streaming arm, Paramount Plus, and announced in November that the investment had peaked a year ahead of target.
Several analysts have emphasized the need for mergers among smaller streamers to bring their businesses into the black.
In January, Reuters reported, citing people familiar with the matter, that Skydance Media CEO David Ellison was considering an all-cash acquisition of National Amusements, the parent company of entertainment company Paramount Global. It was reported that there was.
Paramount aims to cut costs and return to profit growth this year, a person familiar with the situation told Reuters earlier this week. The company plans to lay off employees.
