Comcast, Paramount Skydance mull shutting European streaming venture SkyShowtime

Sept 14 (Reuters) - 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.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Tasim ‌Zahid)

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