Paramount And Charter Extend Carriage Deal With Hotly Anticipated Multiyear Agreement That Includes Paramount+

Paramount Global and Charter Communications have renewed their partnership with a multi-year deal, maintaining the carriage of Paramount’s cable networks and CBS stations, along with streaming services like Paramount+. This agreement also introduces ad-supported Paramount+ Essential and BET+ Essential for Charter’s Spectrum TV customers at no extra cost, reflecting a similar structure to Charter's previous deal with Disney. Unlike the Disney agreement, Charter will not be dropping any cable networks. This deal comes amid financial challenges and leadership changes at Paramount, signaling a significant move for both companies in the evolving media landscape.

The new multi-year distribution agreement between Paramount Global and Charter Communications extends their long-standing partnership and includes Paramount's full portfolio of linear cable networks, CBS owned-and-operated broadcast stations, and direct-to-consumer streaming services. Key components of the deal are:

1. Charter will continue to carry Paramount's CBS owned-and-operated broadcast stations, along with all of Paramount's current cable networks and Paramount+ with Showtime, in relevant tiers across all Spectrum TV Select packages.

2. The ad-supported versions of Paramount's direct-to-consumer services, Paramount+ Essential and BET+ Essential, will be included at no additional cost to Charter's Spectrum TV customers.

3. Charter will make Paramount's direct-to-consumer products available for purchase to its millions of Internet-only customers1.

4. Charter and Paramount will continue to innovate through long-standing advanced advertising partnerships, leveraging the local and advanced capabilities of Spectrum Reach, Charter's advertising sales business.

5. Later this year, Paramount+ Essential and BET+ Essential will be made available at no additional cost to all Spectrum TV Select packages and Mi Plan Latino customers through the Xumo Stream Box or any other Paramount+ supported device. The Paramount+ with Showtime plan will continue to be received at no cost by all of Spectrum's Paramount+ with Showtime linear customers.

6. Spectrum customers that have Paramount+ Essential included will be offered the opportunity to upgrade to the ad-free version of Paramount+ with Showtime later this year.

7. Charter will leverage its vast distribution capabilities, including its nearly 25,000 onshore, in-house sales and marketing employees, to offer Paramount's direct-to-consumer products to its Internet-only customers for purchase at retail rates, with revenue share to Charter for new paid subscriptions and ad-free upgrades1.