Comcast and Paramount Skydance have launched a strategic review of SkyShowtime, with a possible wind-down of the European streaming service among the options being considered.
The Hollywood Reporter says SkyShowtime’s board informed CEO Monty Sarhan of the review on Monday. No decision has been made and the service will continue to operate normally while the shareholders consider their options.
“SkyShowtime operates in one of the most competitive markets in our industry,” the board said in a letter later distributed by Sahan “Despite the excellent work of the team and the strength of what you and the team have built, the landscape continues to evolve rapidly, and remains highly challenging.”
It added that the review “includes the possibility of a wind down”, although all options remain under consideration.
SkyShowtime was announced in 2021 as a 50:50 joint venture between Comcast and the then ViacomCBS, bringing together programming from Paramount, Universal Pictures, DreamWorks, Sky Studios, Showtime, Nickelodeon and Peacock in European territories where the companies had not launched their principal US streaming services.
The service now operates across more than 20 European markets. Sarhan told employees that SkyShowtime has “several million subscribers” and stands in scale alongside established players in its markets.
The review comes amid significant changes at both shareholders and the wider US media industry. Paramount is now controlled by Skydance, while Comcast has been restructuring its traditional television interests. The strategic rationale behind maintaining a jointly owned European streaming platform is therefore being reassessed five years after SkyShowtime was conceived.
For the moment, customers and distribution partners are unaffected. The board said every role remains unchanged and asked employees to maintain the operating business’s momentum into 2027.
Any proposal affecting employees will be subject to the required consultation processes in individual markets before final decisions are taken.
