Paramount Global shares closed up nearly 10% Friday, leading entertainment stocks higher after the Wall Street Journal reported that Paramount Global and Apple are discussing bundling their respective streaming platforms at a discount.
Consensus is emerging that there may too many standalone services for the market to bear. Bundling can reduce the costs to consumers, lowers churn for provider and otherwise make sense, industry executives and Wall Street agree, anticipating more of it. It’s a move short of the outright M&A that many also predict as media companies grapple with streaming red ink and a decline in linear television. See more at Deadline.