According to sources cited by The Wall Street Journal, Apple (AAPL.US) and Paramount Global (PARA.US) were said to be discussing the potential of combining streaming services at competitive prices. This is both the latest and first attempt in a long time for the two rival entertainment companies to join forces to optimize their offerings.
- According to anonymous sources familiar with the negotiations, the companies have been talking about offering Paramount+ and Apple TV+, which would cost less than a separate subscription to both services. At this stage, the discussions are at a very early stage, and it is unclear what turn they will ultimately take;
- The reason for the negotiations is supposed to be primarily to retain customers on the platforms and increase market share. Paramount shares are gaining nearly 5% in pre-opening trade. A partnership with the Apple TV giant could turn the page for Paramount's shares, which are still trading close to levels from the 2020 panic sell-off. The company's shares have already fallen nearly 90% from the 2021 highs.
Paramount PARA.US shares (W1 interval)
An opening near $15 could give bulls hopes of a test of the 50-week moving average, near $17 per share (orange line).
Source: xStation5
Gaming companies with huge discounts 🚨 Will Project Genie end the traditional era of gaming ❓
Warsh wins Fed race
Lockheed Martin earnings: The peak of global tensions and valuations
Market wrap: European indices outperform US stocks ahead of the opening bell on Wall Street 📉
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
