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).
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