Paramount, Amazon Initiate Talks on Expanding Media Partnership

By Jose Resurreccion

May 15, 2024 10:41 PM EDT

Paramount, Amazon Initiate Talks on Expanding Media Partnership
The Paramount logo is displayed at Paramount Studios on January 31, 2024 in Los Angeles, California.
(Photo : Mario Tama/Getty Images)

Paramount was reported to be expanding its media partnership with Amazon a week after the company was reported to be in formal negotiations with several media groups, including Sony and Apollo Global Management. 

People familiar with the talks told Bloomberg, on the condition of anonymity due to the privacy of the conversations, that, while not practically substantial, the talks were said to include the bundled sales of channels as well as advertising. 

READ NEXT: Paramount Reportedly Greenlights Buyout Discussions with Sony, Apollo As Skydance Deal Fades

Paramount's Media Partnership

Paramount is already supplying TV programs to Amazon's Prime Video streaming service. On the other hand, Paramount+, the company's own streaming service, is already popular in Amazon's Channels store.

Paramount has also been holding discussions with Comcast about a joint venture in streaming. The company also attempted to have an agreement with Skydance over Shari Redstone's share in Paramount, but has since broken down.

In addition to the mounting issues, the media giant recently replaced its CEO, Bob Bakish, with a triumvirate of executives aimed at improving the company's finances.

READ MORE: Paramount-Skydance Merger Might Not Happen as Shari Redstone-Controlled Entertainment Firm Allegedly Backs Away

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