What will happen to cable TV? The winds are shifting in Hollywood, with media conglomerates shutting down cable networks or eliminating them altogether in favor of streaming. Warner Bros. Discovery and Comcast/NBCUniversal are already moving forward with such plans, and if the Skydance-Paramount merger is finalized, we can expect the companies to likely spin off or sell their cable channels as well. According to a new article in hollywood reporter.
THR It is reported that MTV, Comedy Central, Nickelodeon and BET “aren’t as high of a priority” to the incoming Skydance administration as its flagship TV network, CBS. Jeff Shell, the company’s soon-to-be president, previously described CBS as a “crown jewel.” THR CBS claims to be the only television property that is completely secure. But Paramount’s ambivalence about the rest of its portfolio comes as no surprise to those paying attention. The company has received numerous bids to acquire BET, including from Tyler Perry and media mogul Byron Allen. And when the digital archives of networks like MTV News, Comedy Central, and others were wiped from the web, it was clear that other networks were being deprioritized.
Will these legacy networks survive on their own, or does this truly spell the end for an endangered form of entertainment? Only time will tell, but the winds will… It’s obvious which way it’s blowing. THR cites a December 19 Bank of America research report. jessica leaf ehrlich This predicts: “In addition to WBD, we anticipate that other media companies may also consider offloading some of their cable TV network assets in the future and pursue effective industry roll-up measures. These assets should be better positioned as integrated, linear-focused vehicles with economies of scale that can facilitate affiliate and advertising negotiations and synergies.” Who can argue with synergies?
