Comcast's NBCUniversal and Paramount Skydance are considering shutting down their European streaming joint venture, SkyShowtime. The board of the service informed CEO Monty Sarhan of the strategic review on Monday, citing a competitive and challenging market. No final decisions have been made, and all options remain under consideration.
The potential shutdown of SkyShowtime reflects the intense competition and evolving strategies within the global streaming market, potentially impacting content availability for consumers in 22 European countries and signaling a reevaluation of international expansion by major media companies.
Comcast's NBCUniversal and Paramount Skydance are contemplating the closure of their European streaming joint venture, SkyShowtime. According to a letter reviewed by Reuters, the board of SkyShowtime informed CEO Monty Sarhan on Monday that it is exploring strategic options for the business, including the possibility of winding down the platform due to a competitive and challenging market.
Sarhan shared the board's letter with employees, acknowledging the uncertainty the news creates and pledging support from the leadership team. SkyShowtime, which launched in 2022, offers content from NBCUniversal, Sky Studios, and Paramount across 22 European markets. The companies are taking time to determine the best path forward, with no final decisions made yet, and all options remain under consideration. The service continues to operate normally for customers and partners.