Shareholders in Warner Bros Discovery have approved the company’s $110 billion (€103 billion) merger with Paramount Skydance, marking a major step towards the creation of a new global media heavyweight.

However, investors separately voted against the executive compensation packages tied to the deal, in a symbolic rebuke to chief executive David Zaslav and the company’s senior leadership including international president Gerhard Zeiler.

The merger vote clears a key hurdle for the transaction, which would see Paramount take control of Warner Bros Discovery’s portfolio, including HBO, CNN and Warner Bros’ film and television studios. Warner Bros Discovery said shareholders had voted overwhelmingly in favour of the deal, which offers $31 per share in cash.  

At the same time, shareholders rejected the proposed “golden parachute” packages for Zaslav and other top executives. The vote is non-binding, but it highlights continued investor frustration over executive pay. Reuters reported that under the current structure Zaslav could receive up to $887 million if the merger completes, while other senior executives are also in line for substantial payouts.  

The merger remains subject to regulatory approval in the United States and Europe, with scrutiny expected around competition, content rights and broader market concentration. Critics including US Senator Elizabeth Warren and a wide group of Hollywood figures have argued the tie-up could reduce competition and lead to significant job losses.  

If cleared, the transaction would bring together Paramount’s broadcast and cable brands, including CBS, Nickelodeon and Comedy Central, with Warner Bros Discovery’s premium content, streaming services and international channels. It would also materially reshape the streaming landscape, with HBO Max expected to sit within Paramount’s broader direct-to-consumer portfolio.  

The deal is currently expected to close in the third quarter of 2026, pending regulatory sign-off

5 says its streaming service delivered the fastest growth of any UK public service broadcaster platform in the first quarter of 2026, with Barb data showing viewing hours up 25% year-on-year.

The broadcaster said the growth outpaced its main PSB rivals over the same period, with BBC iPlayer down 8%, ITVX down 1% and 4 Streaming up 17%.

According to 5, the strongest driver of growth was its slate of UK original dramas, led by Power: The Downfall of Huw Edwards, Ellis and The Good Ship Murder, alongside factual programming, sport and boxsets.

Power: The Downfall of Huw Edwards has now reached 4.2 million viewers across linear and streaming after almost a month, making it the most watched title on 5 so far this year.

Reemah Sakaan, president of 5, said the broadcaster had made a strong start to the year, with the performance reflecting both the impact of its original drama slate and the wider depth of programming available on the streaming platform.

The results build on Channel 5’s relaunch under the unified 5 brand in March 2025, which brought together its linear, digital and streaming services under a single identity as part of a broader strategy to strengthen its position in UK streaming.

Viaplay Group reported first-quarter net sales of SEK 5.279 billion, up from SEK 4.374 billion a year earlier, reflecting the first full quarter in which Allente has been fully consolidated.

On a core operations basis, net sales were SEK 5.278 billion, broadly stable organically, while EBITDA before items affecting comparability and acquisition-related costs came in at SEK 101 million, compared with a pro forma SEK 86 million for the same period last year.  

The strongest momentum again came from streaming. Core streaming subscription sales rose 7.9% organically to SEK 2.12 billion, accounting for 40% of core operations sales. Viaplay said the growth was driven by its direct-to-consumer business, with the D2C subscriber base up year-on-year, while both D2C and B2B ARPU increased due to a higher proportion of premium sports subscribers, price rises and a reduction in low-ARPU B2B subscriptions.  

By contrast, non-streaming subscription sales, which now include almost all of Allente’s revenues, fell 4.6% organically to SEK 2.179 billion, or 41% of core sales. Viaplay said this reflected the structural decline in Allente’s DTH base and the wider fall in linear channel subscriptions as customers migrate to streaming, partly offset by pricing and packaging measures. Advertising sales were down 1.3% organically to SEK 795 million, while “other” revenues, including scripted content sales and some sublicensing income, fell 17% to SEK 183 million.  

The company’s reported profitability remained under pressure. Group operating income fell to a loss of SEK 234 million from a profit of SEK 38 million a year earlier, while net income was a loss of SEK 420 million compared with a loss of SEK 125 million. Integration and restructuring costs linked to Allente were a major factor, with items affecting comparability amounting to SEK -184 million in the quarter.  

Cash flow, however, improved sharply. Group free cash flow was positive SEK 37 million, compared with negative SEK 671 million a year earlier, with core operations contributing SEK 85 million. Chief executive Jørgen Madsen Lindemann said the company had delivered a SEK 708 million year-on-year swing in group free cash flow and was now in a “considerably stronger commercial and financial position” than a year ago.  

Allente remains central to the investment case. Viaplay said the restructuring of the business is proceeding according to plan, with no change to expected synergies or timing. The group continues to target full run-rate annual cash cost synergies of SEK 300 million to SEK 400 million from January 2027, with integration costs of SEK 270 million to SEK 330 million, most of which will be taken in the first half of 2026.  

Comcast reported first quarter revenue of $31.46 billion, up 5.3%, following the separation of channels business Versant, but profitability came under pressure as costs linked to major sports events, streaming and wider investment weighed on the quarter.

Net income attributable to Comcast fell 35.6% to $2.17 billion, while adjusted EBITDA declined 16.8% to $7.93 billion.

The group said the quarter was shaped by what it described as a “Legendary February”, built around the Milan Cortina Winter Olympics and the Super Bowl, which boosted media revenues and drove further momentum at Peacock.

Peacock revenue rose 71% year-on-year to $2.1 billion, passing the $2 billion mark for the first time, while paid subscribers increased 12% to 46 million. However, the streamer’s adjusted EBITDA loss widened to $432 million from $215 million a year earlier, reflecting the cost of the Olympics and Super Bowl alongside NBA rights in the current period.

At Connectivity & Platforms, which includes the Sky business, total revenue slipped 1% to $19.96 billion and adjusted EBITDA fell 4.3% to $7.91 billion. Residential connectivity revenue was broadly flat at $8.97 billion, but domestic broadband revenue fell 5.1% to $6.34 billion as customer numbers and average rates declined. Comcast’s domestic broadband customer losses improved significantly, however, with net losses of 65,000 compared with 183,000 a year earlier.

Wireless remained a bright spot. Domestic wireless service revenue increased 15% to $977 million, equipment revenue rose 52.9% to $418 million, and Comcast added 435,000 wireless lines in the quarter, its strongest quarterly performance on record. Total wireless lines reached 9.74 million, equivalent to 16% penetration of domestic residential broadband customers.

Video revenue in residential connectivity fell 5.2% to $6.26 billion as domestic video customer losses continued, with Comcast shedding 322,000 video customers in the quarter, though that was an improvement on the 427,000 lost a year earlier.

France Télévisions has struck a strategic partnership with YouTube as part of its streaming-first strategy, expanding the distribution and monetisation of its news output across digital platforms.

The alliance will see the French public broadcaster make thousands of hours of news programming available online each year, shortly after broadcast, in an effort to widen reach across all screens and audiences.

Under the agreement, France Télévisions will distribute its national and regional news bulletins, along with flagship daily and weekly current affairs and investigative programmes, on YouTube.

The partnership also includes a stronger editorial presence on the platform, with content organised by programme and theme, alongside original YouTube-native formats designed to appeal to specific audience segments.

France Télévisions said the deal comes as news consumption on YouTube continues to grow, with more than half of users now accessing news on the platform.

The two companies will also work together on tools aimed at tackling misinformation and manipulated content, including support for YouTube’s Likeness ID system, which is designed to help detect AI-generated material using a person’s image or identity without consent.

On the commercial side, France TV Publicité will directly sell the broadcaster’s advertising inventory on YouTube, giving it greater control over monetisation and management of its catalogue.

Delphine Ernotte Cunci, chairwoman and chief executive of France Télévisions, said the partnership accelerates the broadcaster’s streaming-first strategy and strengthens the reach of its journalism at a time of intense competition and rising exposure to misinformation.

Justine Ryst, managing director of YouTube France, said the partnership reflects the complementarity between YouTube and public service media, with the platform’s technology helping extend the reach of trusted news content.

The move underlines how public broadcasters are increasingly using global video platforms not just for promotion, but as core parts of their digital distribution strategy.

New TV operating systems launched since 2022 are set to capture around 30% of the European market by 2030, up from 21% in 2025, according to research from Omdia.

The forecast highlights a structural shift in the smart TV ecosystem, as manufacturers increasingly prioritise platform revenues over traditional hardware margins.

Google TV currently leads the European market with a 32% share, but is expected to gradually lose ground to a growing group of independent platforms including VIDAA, Titan OS and TiVo OS.

These platforms are gaining traction by offering TV manufacturers a share of advertising and data revenues, in contrast to Google’s more vertically integrated model. This approach allows brands to generate ongoing income from home screen advertising and FAST channels, extending monetisation beyond the initial device sale.

Omdia said the shift is also being driven by technical and cost considerations. Many of the emerging platforms are based on lighter, Linux-style architectures, reducing hardware requirements and helping manufacturers manage rising component costs while maintaining performance.

At the same time, the platforms offer greater control over the user interface and audience data, allowing TV brands to differentiate their products and retain direct relationships with viewers.

European positioning is also proving important. Titan OS and TiVo have focused on integrating local broadcaster content into their interfaces, while a recent advertising partnership between the two aims to build sufficient scale to attract regional ad spend.

Omdia expects the market to reach a tipping point by 2028, when combined shipments of VIDAA, Titan OS and TiVo reach 12.4 million units in Europe. VIDAA is forecast to be the largest contributor, driven largely by the expansion of Hisense.

The research underscores how control of the TV operating system is becoming a central battleground in the connected TV market, with implications for content discovery, advertising and long-term platform economics.

The UK Competition and Markets Authority has opened the first stage of its review into nexfibre’s proposed £2 billion acquisition of Netomnia, inviting comments from interested parties as it assesses the impact of the transaction on competition.

The regulator said the current “invitation to comment” is part of its information-gathering process and that it has not yet launched a formal merger investigation. The consultation runs until May 8.  

nexfibre responded by saying the proposed deal would “unlock £3.5 billion of capital” and create a scaled, financially secure wholesale challenger to BT Openreach. Chief executive Rajiv Datta said the transaction would strengthen the sector and support long-term investment in full-fibre infrastructure, while shareholders InfraVia, Liberty Global and Telefónica argued that consolidation is now essential to sustain investment and reduce market fragmentation. Those claims broadly mirror the rationale set out when the deal was announced in February.  

The acquisition would be one of the biggest consolidation moves yet in the UK altnet market, valuing Netomnia’s parent Substantial Group at around £2 billion and significantly expanding the footprint available to Virgin Media O2 and nexfibre, taking the combined reach towards 8 million premises and giving the wider group access to around 20 million homes over time.  

The deal has already drawn concern from rivals. CityFibre has previously urged the CMA to scrutinise the combination closely, arguing that it could reinforce a duopoly structure in UK broadband if not properly tested.

The transaction has been presented by nexfibre and its backers as a necessary response to the financial pressures facing many fibre altnets as the market moves from rapid build-out to a more consolidation-led phase.  

ITV is extending the reach of its streaming platform ITVX into the automotive sector through a new partnership with Xperi.

The agreement will see ITVX launch on the DTS AutoStage Video Service, powered by TiVo, making the service available in selected BMW and MINI vehicles from today, with Mercedes-Benz models to follow.

The move marks ITVX’s first distribution deal in the in-car entertainment space, as broadcasters increasingly explore new environments beyond the home to reach audiences. The service will be accessible via in-car infotainment systems when vehicles are parked, offering a familiar streaming experience adapted from ITVX’s existing platform.

The launch makes ITVX the first UK public service broadcaster streaming service to be integrated into the DTS AutoStage Video Service, reflecting a broader push into connected entertainment ecosystems.

The TiVo-powered platform aggregates live and on-demand content into a unified interface, aiming to simplify discovery and reduce friction between apps — a key challenge as content consumption becomes more fragmented across devices.

Jeff Jury, senior vice president and general manager of immersive entertainment at Xperi said: “ITVX is a hugely important streaming destination for UK audiences, and we’re excited to work with ITV to bring it into the car through DTS AutoStage Video, Powered by TiVo. As ITVX rolls out across BMW, MINI and Mercedes-Benz vehicles, this partnership will help more people enjoy ITV’s much-loved content in more moments, wherever their journey takes them.”

The expansion comes as ITVX continues to grow, having surpassed 1 billion streams for 2026 earlier this month, ahead of last year’s pace. The platform’s performance has been driven by a mix of reality formats, drama and live events, reinforcing its position as the UK’s leading commercial broadcaster video-on-demand service.

The new portfolio replaces the existing O2 TV M, L and XL tiers with three packages – Classic, Smart and Premium – bundling more than 150 HD channels with integrated access to platforms including Netflix and Disney+, depending on the tier.

O2 TV Classic is priced at €4.99 per month on a 24-month contract and includes optional access to Netflix Standard with ads free for three months, plus 100 hours of cloud recording. O2 TV Smart (€8.99 per month) adds three months of both Netflix and Disney+ (ad-supported tiers), 150 hours of recording and the ability to watch both at home and across the EU. The top-tier O2 TV Premium (€14.99 per month) includes both streaming services on a permanent basis, 200 hours of recording and multi-device access at home and on the move. An ad-free Premium Pro variant is available for €24.99 per month.

After the initial three-month promotional period in Classic and Smart, Netflix and Disney+ subscriptions continue at €4.99 per month each and can be cancelled independently.

The operator is also offering flexible, monthly-cancellable versions of Classic and Smart, with a free first month followed by €6.99 and €9.99 respectively, though these do not include bundled streaming services.

All packages provide access to more than 150 HD channels, along with features such as pause, restart and cloud recording. Up to four streams can be used simultaneously across smart TVs, smartphones, tablets and laptops, with support for user profiles including parental controls. Recordings can be scheduled remotely via mobile devices.

In addition to linear TV and catch-up content via integrated media libraries, users can rent films through an on-demand store shortly after their cinema release. A separate pay-TV add-on offering more than 40 ad-free channels remains available for €6.99 per month.

“Many customers are losing track of the growing number of streaming services and want to watch content on their own schedule,” said Markus von Böhlen, Director Devices and Services at Telefónica Deutschland. “Our new O2 TV portfolio reduces complexity and bundles the most relevant offers with clear pricing and transparent services.”

Streaming services such as Netflix, Disney+, WOW and Crunchyroll will also continue to be offered independently alongside O2 mobile and broadband tariffs, keeping the overall proposition flexible.

Racing TV has launched Racing TV Play on Samsung TV Plus in the UK and Ireland, expanding its reach into the fast-growing free ad-supported streaming TV market.

The new channel becomes the first dedicated horse racing and equestrian service on the platform in these markets, available across Samsung Smart TVs, smartphones and tablets.

Racing TV Play is built around a curated archive of British and Irish racing, including landmark moments from events such as the Cheltenham Festival, Grand National Festival and Epsom Derby Festival. The service will also feature magazine programming and storytelling content, with plans to introduce live preview shows and additional shoulder programming.

Clive Cottrell, marketing director at Racing TV, said the channel provides a new route to engage audiences, combining free access with premium archive material to broaden the sport’s reach.

Samsung said the launch strengthens its sports offering on Samsung TV Plus, which already includes a range of specialist FAST channels spanning football, golf and combat sports.

FAST distribution is seeing increased interest from rights holders and niche sports wanting to reach wider audiences beyond traditional pay-TV platforms, using free streaming environments as a discovery and engagement funnel.