Paramount Skydance is exploring bringing on a strategic partner for MTV as it looks to reinvent the cable brand for a digital future, according to Bloomberg.
The outlet reports that the media giant has hired financial advisors to identify a strategic partner that would invest money in the network and offer additional assistance, such as music rights or connections to top artists. Paramount has reportedly spoken with several major companies and music industry figures about acquiring a stake, though it may end up not doing any deals.
A Paramount spokesperson declined to comment.
The search comes after Paramount said it would invest in excess of $1.5 billion in programming in 2026, including streaming investment in the UFC, Paramount+ originals, third-party catalog licensing and ramping up its film slate, with plans to target at least 15 movies per year over the next few years.
Rather than follow Comcast and Warner Bros. Discovery’s lead in spinning their cable networks off into a standalone company or selling them, Paramount CEO David Ellison and president Jeff Shell have said they will instead focus on investing in their cable brands’ digital presence.
TV/Media chair George Cheeks, meanwhile, has said the cable brands would also focus on a “more curated slate” and “optimizing programming and marketing resources to amplify what resonates most.” That means leaning into franchises like “SpongeBob,” “Paw Patrol,” “RuPaul’s Drag Race,” “South Park,” “Ms. Pat” and “The Daily Show,” while continuing to develop new IP across its studios.
MTV reached an average of less than 200,000 viewers per night in primetime last year, per Nielsen data. In December, the network shuttered a group of 24-hour music-only channels, including MTV Music, MTV 80s, MTV 90s, Club MTV and MTV Live, in the United Kingdom and Australia.
Elsewhere, Comcast finalized its spinoff of Versant earlier this week. Since its Nasdaq debut on Monday, Versant shares have fallen over 20%, with the declines being attributed in part to forced selling from index funds rebalancing their portfolios.
Under its pending $83 billion deal with Netflix, Warner Bros. would spin its cable networks — including CNN, TNT Sports, Discovery Channel and more — out into a standalone company called Discovery Global in the third quarter of 2026.
Ellison is looking to thwart the Netflix deal with a $108.4 billion hostile takeover bid for all of Warner Bros. Discovery, which has been taken directly to shareholders. The Paramount offer, which has been rejected by WBD’s board but is under review by the Department of Justice’s Antitrust Division, would keep Warner’s cable networks rather than pursuing the spinoff. Paramount has pegged the value of Discovery Global’s cable networks between $0 and $0.50 per share, while some analysts have valued them between $3 and $5 per share.
As of Dec. 19, less than 400,000 shares had been validly tendered and not withdrawn, though shareholders can do so at any time before Jan. 21 at 5 p.m. ET, a deadline which can be extended. WBD has approximately 2.48 billion outstanding shares.
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