Paramount explores sale of majority stake in streaming service
Paramount Global is considering selling a majority stake in its online kids’ entertainment platform Noggin in an attempt to better prioritize its Paramount+ and Pluto TV streaming services.
Paramount wants to retain a stake in Noggin，the stake sale is part of the company’s effort to support its streaming service Paramount+. The company said in February it will increase the prices of the service’s premium and essentials tiers.
Paramount+ is set to integrate with the company’s other streaming platform Showtime. The company expects an impairment charge of $1.3 billion to $1.5 billion in the current quarter from the integration.
The Noggin platform, born out of a 1999 joint venture between Nickelodeon and “Sesame Street” parent Sesame Workshop, caters to kids ages 2–7. It initially included its own TV channel, but that was replaced by Nick Jr. in 2009 after INickelodeon bought out Sesame Workshop’s stake in 2002, the Journal said.
Nickelodeon produces a good portion of Noggin’s content, including the popular “PAW Patrol” and “Peppa Pig,” which also appears on Paramount+.
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