Paramount Global is mulling ending its Showtime streaming service, and folding its content into its Paramount+ service, according to a report in The Wall Street Journal. Citing people familiar with the situation, the WSJ report said the discussions surrounding the move, which would help streamline Paramount’s offerings, are still early. The report of the discussions comes as Warner Bros. Discovery Inc. has said it would combine its HBO Max streaming service with its Discovery+ service. Paramount’s stock, which fell 5.7% in afternoon trading, has tumbled 24.2% year to date, while the S&P 500 has shed 16.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0