Comcast, Paramount Skydance mull shutting European streaming venture SkyShowtime

Sept 14 : Comcast's NBC and Paramount Skydance are considering winding down their SkyShowtime joint venture, which streams shows and movies in European markets, according to a letter reviewed by Reuters on Monday.

Here are some details:

• The SkyShowtime board wrote to CEO Monty Sarhan on Monday that it is considering strategic options for the business, including shutting down the platform, amid a competitive and challenging market, according to the letter.

• SkyShowtime, which launched in 2022, is available in 22 European markets, including Spain, Portugal, Denmark and Sweden.

• Sarhan shared the board letter with employees along with his own memo, which was reviewed by Reuters.

• "I know this news creates uncertainty and, as we work through what comes next, my priority and that of the leadership team, is to be there and support all of you," he said in the memo.

• The Hollywood Reporter and Bloomberg News earlier reported the development.