Nexstar Media Group vs Paramount

Investor Presentation Released: Nexstar Media Group

AI parsed presentation narrative: Nexstar asserts that its combination with TEGNA is a pro-consumer move that expands local news and creates a more balanced national news landscape via NewsNation. Management argues the combined entity remains a fraction of the size of 'Big Tech' and legacy media giants, while highlighting that multichannel distributors like DIRECTV are unfairly undercompensating broadcasters for high-value content. Key tailwinds mentioned: Over-The-Air (OTA) Growth, NewsNation Expansion.

Paramount In Talks to Settle Multistate Lawsuit for Warner Deal

Paramount is negotiating to settle a multistate lawsuit blocking its planned $111 billion acquisition of Warner Bros. Discovery, aiming to close before a $7 million daily ticking fee begins on October 1. Talks involve concessions such as protecting CNN's editorial independence, possible sale of cable channels like Comedy Central, and commitments to keep movie studios separate. The lawsuit, led by California and 11 other states, plus a Writers Guild of America challenge, represents the last major obstacle after DOJ clearance and foreign regulatory approvals. A settlement would allow the historic media merger to proceed, while failure could lead to a trial in March and substantial financial penalties.

• Paramount is negotiating to settle a multistate lawsuit blocking its $111 billion acquisition of Warner Bros. Discovery.
• The ticking fee of approximately $7 million per day starts on October 1 if the deal is not closed by September 30.
• California leads a coalition of 12 states that sued in July to stop the acquisition.

JustWatch Launches Own Streaming Service with Free Movies and Rentals

JustWatch, the popular streaming discovery platform, is launching JustWatch TV, an integrated streaming service set to debut in October 2026 across the US, Canada, UK, and Germany (11 markets total). The service will be available on web, mobile, and TV apps, offering free ad-supported movies, rentals, and an ad-free subscription (pricing TBD). Leveraging audience demand data from its 50 million monthly users, JustWatch TV will launch with content from Paramount, New Regency, Fremantle, Bleecker Street, and Vortex Media. This move positions the company in the FAST (Free Ad-Supported Streaming TV) market, expanding its role from a discovery tool to a content distributor. The service aims to complement other streamers, with users still able to link out to Netflix, Prime Video, and others, while increasing engagement and monetization opportunities.

• JustWatch is launching JustWatch TV in October 2026 across 11 markets, including the US, Canada, UK, and Germany.
• The service offers free ad-supported content, rentals, and an ad-free subscription, integrated into the existing JustWatch app.
• JustWatch TV will launch with content from Paramount, New Regency, Fremantle, Bleecker Street, and Vortex Media.

ProSiebenSat.1 Signs New Fiction Deal with Paramount

ProSiebenSat.1 has signed a new content licensing agreement with Paramount Global Content Licensing for Germany, Austria, and Switzerland, expanding their ongoing partnership. The deal secures exclusive series premieres for its free-TV channels and the Joyn streaming platform, including the third season of 'Navy CIS: Origins' and the first Joyn availability of 'FBI: International'. Additionally, Joyn will feature 1,372 episodes of library series such as 'Beverly Hills, 90210', 'Scorpion', 'Good Wife', 'Bull', 'Diagnose Mord', 'Blue Bloods', and 'Elementary', along with 1,200 episodes of Nickelodeon kids content (including 'Victorious', 'Zoey 101', 'Teenage Mutant Ninja Turtles', and 'Rugrats') and 26 horror blockbusters for Halloween, including the 'Hellraiser' series. Executives from both companies emphasized the breadth of the portfolio and the strengthened multi-platform collaboration.

• ProSiebenSat.1 signed a new content licensing deal with Paramount Global Content Licensing for Germany, Austria, and Switzerland.
• The deal includes exclusive series premieres for ProSiebenSat.1 free-TV channels and Joyn, such as 'Navy CIS: Origins' season 3 and 'FBI: International'.
• The agreement covers 1,372 episodes of library series, 1,200 Nickelodeon kids episodes (including 'Victorious', 'Zoey 101', and 'Rugrats'), and 26 horror films.