Home / Business and Economy / Paramount Offloads Telefé in $100M Deal as Brits Favor U.S. YouTube
Paramount Offloads Telefé in $100M Deal as Brits Favor U.S. YouTube
24 Oct
Summary
- Paramount sells Argentinian broadcast network Telefé for around $100M
- Bell Media and Tubi partner on ad sales, content distribution, and co-productions
- UK YouTube users watch more U.S. content than local creators
In the past month, there has been significant turbulence in the European media landscape. Paramount, the parent company of Skydance, has sold its Argentinian broadcast network Telefé to local businessmen Gustavo Scaglione and José Luis Manzano. While the exact terms of the deal were not disclosed, a leading Argentine newspaper pegged the sale price at around $100M—a substantial loss from the $345M Paramount's predecessor Viacom paid for Telefé nine years ago.
Elsewhere, Canada's Bell Media and Fox's ad-supported streaming service Tubi have forged a wide-ranging partnership. Under the agreement, the two companies will collaborate on ad sales, content distribution, and the development of original programming for Tubi's global platform and Bell's Canadian services. This deal follows on from an October 2023 pact between Bell and Fox to co-produce Canadian originals.
Additionally, a new study has revealed that British YouTube users are less likely to watch entertainment, gaming, and news and politics content from their own country compared to users in France, Italy, Germany, Spain, and the U.S. In the UK, only 12 out of the top 30 channels in those genres were local, whereas in other markets, local networks made up between 83% and 97% of the top 30. The U.S. drew the most local viewership, with 29 out of 30 top channels coming from within the country.
