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ViacomCBS In Deal To Launch Paramount+ On Sky Platforms In Europe

ViacomCBS Inc. (VIAC, VIACA) announced Thursday its partnership with Sky, part of Comcast Corp. (CMCSA), to launch its digital subscription video streaming service Paramount+ in Europe. The financial terms of the agreements were not disclosed.

As part of a new multi-year distribution agreement between ViacomCBS Networks International and Sky, Paramount+ will launch on Sky platforms in the UK, Ireland, Italy, Germany, Switzerland and Austria or GSA in 2022.

Paramount+ will also be available direct-to-consumer in UK, Ireland, Italy and GSA through the Paramount+ app for iOS and Android and across supported connected TV devices and OTT platforms. The company will announce pricing and local content offering at a later date.

The deal with Sky also includes the extended carriage of ViacomCBS' major portfolio of pay TV channels and the renewal of Sky as an ad sales partner in select markets.

Upon launch, Sky Cinema subscribers will be offered Paramount+ at no additional cost, providing access to two services side by side with more than 10,000 hours of extra content for one affordable price.

Under the partnership, Paramount Pictures' feature films will remain available on Sky Cinema in the UK and will join Sky Cinema in Germany and Italy in 2022. All other Sky customers will be able to subscribe to Paramount+ as an add-on to their account.

In addition, ViacomCBS and Sky reached a multi-year extension for carriage of ViacomCBS' linear channels - including Comedy Central, MTV and Nickelodeon - in the UK, Ireland, Italy and GSA.

Further, ViacomCBS renewed its multi-year agreement with Sky as an ad sales partner for all platforms and channels in the UK and Italy. Sky Media will continue to handle ad sales across the ViacomCBS portfolio of channels.

Paramount+ is the latest in a series of apps to come to Sky Q adding more than 10,000 hours of content.

Raffaele Annecchino, President and Chief Executive Officer, ViacomCBS Networks International, said, "This transformative distribution deal is key to accelerating our global ambitions in streaming while also supporting Sky's strategic objectives to better serve audiences with greater flexibility in how they consume our content across all platforms."

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