Brian Roberts (Comcast) and Shari Redstone (ViacomCBS)
ViacomCBS and Comcast’s previously announced partnership has been halted amid voiced concerns regarding the Biden Administration’s antitrust enforcement.“It wouldn’t shock me if later this fall, we got back into a discussion of whether there’s anything more that we can do together,” a related source confirmed. Both conglomerates are also contemplating ViacomCBS’ potential Peacock acquisition. According to Forbes, the potential business opportunity led to talks about other potential Hulu-styled streaming joint ventures.
As Paramount+ continues to expand into the U.S and Latin America, with plans to launch in 25 additional territories to reach the success of other streaming competitors, such as Netflix, Apple, Amazon, and Disney. Both parties continue to await a reaction from political regulators to know how to proceed with the proposed merger of AT&T’s WarnerMedia and Discovery. In the meantime, the companies will prioritize bundle offerings to strengthen their presence in international markets.
The deal was driven by the recent merger of $43 billion between WarnerMedia and Discovery and an $8.45 billion MGM acquisition, all of which prompted further streaming efforts on behalf of ViacomCBS. Comcast is looking to balance its distribution and streaming content more efficiently.