(Reuters) – Paramount Global has signed a new multi-year content distribution agreement with Paramount Global. Charter Communications (NASDAQ:) for its entire portfolio of linear cable networks, the companies said Thursday.
The two companies did not disclose financial terms of the deal, in which ad-supported versions of Paramount's direct-to-consumer services, Paramount+ Essential and BET+ Essential tier, will be included at no additional cost to Charter's Spectrum TV customers.
Charter will also make Paramount's direct-to-consumer products available to its customers online only at the broadband and cable TV providers' retail stores. You'll get revenue share from new paid subscriptions and ad-free upgrades.
The announcement comes as the bidders negotiate the purchase of Paramount Global Media Group, which owns studios and networks such as CBS, MTV, Comedy Central and others.
Paramount's exclusive negotiations with Sky Dance ended early in May, allowing the company to evaluate competing shows such as Apollo and Sony (NYSE:) View Images $26 Billion.
Spectrum customers who subscribe to Paramount+ Essential will get the opportunity to upgrade to Paramount+ with a Showtime plan, the companies said.
Charter, one of the largest cable companies by subscribers in the United States, will continue to carry CBS owned-and-operated broadcast stations and all of Paramount's existing cable networks and Paramount+.
Last year, Disney and Charter reached a similar agreement that brought the giant media networks, including ESPN, back to its Spectrum cable service.
