NEW YORK - Paramount Global (NASDAQ: PARA, PARAA) and Charter Communications , Inc. (NASDAQ: NASDAQ:CHTR) have announced an extension of their partnership with a new multi-year distribution agreement. This deal will continue to provide Spectrum TV customers with access to Paramount's portfolio of cable networks and CBS stations, as well as introduce Paramount's direct-to-consumer streaming services to Spectrum packages at no extra cost.
Under the new agreement, Spectrum audiences will maintain access to CBS and popular cable brands such as BET, Comedy Central, MTV, and Nickelodeon. Paramount Network, home to the hit series "Yellowstone," will also remain available. Additionally, Paramount+ Essential and BET+ Essential, the ad-supported versions of Paramount's streaming services, will be included for Spectrum TV customers without an additional charge.
Charter will also offer Paramount's streaming products for purchase to its internet-only customers, expanding the availability of these services. This move is part of a broader initiative by Spectrum to enhance its cable bundle offerings and provide more value to its video customers.
The agreement details that Paramount+ Essential and BET+ Essential will be accessible later this year through the Xumo Stream Box or any supported device. Customers with these services included in their Spectrum TV Select packages will have the option to upgrade to the ad-free Paramount+ with Showtime.
InvestingPro Insights
As Charter Communications, Inc. (NASDAQ: CHTR) strengthens its partnership with Paramount Global through a new distribution agreement, it is worthwhile for investors to consider some key financial metrics and insights from InvestingPro. Charter has a current market capitalization of $43.25 billion and is trading at a P/E ratio of 8.49, which is reflective of the company's earnings relative to its share price. The adjusted P/E ratio for the last twelve months as of Q1 2024 is slightly lower at 8.45, indicating a steady valuation over recent periods.
InvestingPro Tips highlight that Charter's management has been actively buying back shares, a move that can signal confidence in the company's future prospects and potentially create value for remaining shareholders. Additionally, Charter is recognized as a prominent player in the Media industry. However, it is important to note that 9 analysts have revised their earnings downwards for the upcoming period, which could be a point of concern for potential investors.
In terms of stock performance, Charter has experienced a significant price drop over the last six months, with a 33.11% decline, but it's worth noting that analysts predict the company will remain profitable this year. Despite not paying a dividend to shareholders, the company's profitability over the last twelve months and its role in the media landscape remain key factors to consider. For those interested in a deeper dive into Charter's financials and future projections, InvestingPro offers additional tips and metrics. With the use of coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights.
For more detailed analysis and to explore the full range of InvestingPro Tips for Charter Communications, visit https://www.investing.com/pro/CHTR. There are a total of 9 additional InvestingPro Tips available for investors seeking comprehensive information on the company's financial health and market position.
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