Comcast, Paramount Skydance mull shutting European streaming venture SkyShowtime

On Monday, a letter obtained by Reuters revealed that Comcast’s NBC and Paramount Skydance are evaluating the possibility of shutting down their SkyShowtime streaming venture in Europe. The SkyShowtime board informed CEO Monty Sarhan that they are considering strategic options, including potentially closing the platform, due to a competitive and challenging market environment.

SkyShowtime, launched in 2022, is accessible in 22 European markets, including Spain, Portugal, Denmark, and Sweden. Sarhan shared the board's letter with his employees and provided them with a memo, which was also reviewed by Reuters. In the memo, Sarhan acknowledged the uncertainty surrounding the situation and emphasized that his priority and that of the leadership team is to support all involved. Earlier reports from the Hollywood Reporter and Bloomberg News had also confirmed the news.