We are advising Comcast on the establishment of a subscription video on demand partnership

We are advising Comcast on its partnership with ViacomCBS to launch a new subscription video on demand streaming service called “SkyShowtime.” SkyShowtime will be available from 2022 in more than 20 European countries and will be built on Comcast’s Peacock technology platform. The service will have a vast content proposition, with entertainment, movies and original series from the NBCUniversal, Sky and ViacomCBS portfolio of brands, including SHOWTIME, Nickelodeon, Paramount Pictures, Paramount+ Originals, Sky Studios, NBCUniversal, Universal Pictures and Peacock. The partnership will be structured as a joint venture, with equal investment and joint control by Comcast and ViacomCBS.

Comcast Corporation (NASDAQ: CMCSA) is a global media and technology company principally focused on broadband, aggregation and streaming with over 57 million customer relationships across the United States and Europe. It delivers broadband, wireless and video; creates, distributes and streams leading entertainment, sports and news; and provides memorable experiences at its parks and resorts. ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and entertainment company. The company delivers the largest share of the U.S. television audience, with extensive libraries of TV and film titles, and in addition to offering innovative streaming services and digital video products, provides capabilities in production, distribution and advertising solutions.

The Davis Polk corporate team includes partner Will Pearce and associates Joseph Scrace and Charlie Burrell. The intellectual property and technology transactions team includes partner Frank J. Azzopardi and associates Jesse L. Hallock and Christopher C. Woller.  Partner Jonathan Cooklin, counsel Dominic Foulkes and associate Freddie Schwier are providing tax advice. Members of the Davis Polk team are based in the London and New York offices.