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Media stocks jumped Friday following a Wall Street Journal report that Apple and Paramount Global are in early-stage talks to offer a bundle of the two company’s streaming platforms.
The companies have talked about bundling Apple TV+ and Paramount+ in an offering that would cost less than subscribing to the two separately, The Wall Street Journal reported Friday.
Shares of Paramount closed up nearly 10% Friday, while Warner Bros. Discovery, which owns streaming service Max, closed up more than 8%. Paramount is down about 6% on the year, while Warner Bros. Discovery, which reported a streaming profit in the third quarter, is up about 19%.
Apple and Paramount did not immediately respond to CNBC’s request for comment.
Paramount+ and Apple TV+ could be an ideal match for a bundle given their differing content strategies. Apple TV+ is known to offer a robust library of exclusive and prestige content, while Paramount+ boasts a larger back-catalog of…
2023-12-01 16:27:58
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