Comcast and Paramount Skydance are reviewing strategic options for SkyShowtime, their European streaming joint venture, including the possibility of shutting down the service.
The review was disclosed Monday in a letter from the SkyShowtime board to Chief Executive Officer Monty Sarhan, who later shared the message with employees.
“SkyShowtime operates in one of the most competitive markets in our industry,” the board wrote. “Against that backdrop, SkyShowtime’s shareholders are commencing a review of strategic options for the business, which includes the possibility of a wind down.”
The board stressed that no decisions have been made. Bloomberg and the Hollywood Reporter were the first to report on the memo.
The board said SkyShowtime will continue operating normally during the review and asked employees to maintain momentum into 2027. It also said any proposal affecting workers would be subject to required consultation processes in individual markets.
Sarhan told employees his priority was supporting staff through the uncertainty.
SkyShowtime was formed in 2021 as a way for Comcast and Paramount to serve European markets where Peacock and Paramount Plus were not directly available. The service combines programming from NBC Universal, Sky Studios, Paramount, Showtime, Nickelodeon, MTV, Dreamworks and other properties.
It currently operates across 22 European markets and has “several million subscribers,” according to Sarhan.
The review comes as both owners face broader strategic changes: Comcast is preparing to separate NBC and Sky into a standalone publicly traded company, while Paramount is pursuing a merger with Warner Bros Discovery (WBD).
The possible winding down of SkyShowtime is not intrinsically connected to Paramount’s ongoing pursuit of WBD, though it was earlier reported that Paramount might consider winding down its involvement in SkyShowtime in order to address regulatory concerns in Europe over the merger.
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