variety.com
27.04.2022 / 14:53
Comcast, Charter Form Joint Venture to Launch Nationwide Streaming Service
Todd Spangler NY Digital EditorComcast and Charter Communications, the two biggest cable operators in the U.S., are joining forces in the streaming wars.The two companies on Wednesday announced a 50-50 joint venture to develop and offer a next-generation streaming platform on a variety of branded 4K streaming devices and smart TVs to reach customers in major markets across the country with the platform.Comcast will license Flex, its aggregated streaming platform and hardware to the JV, contribute the retail business for XClass TVs, and contribute Xumo, the free, ad-supported streaming service it acquired in 2020. Charter will make an initial contribution of $900 million, funded over multiple years.The XClass TVs will be available through national retail partners and potentially direct from Comcast and Charter to provide more customer choice.