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Paramount Global and Korea’s CJ ENM Scale Back Strategic Partnership
Paramount+ to leave Tving as Paramount Global and Korea's CJ ENM scale back their less than three-year-old strategic partnership.
While CJ ENM and Tving retain the rights in South Korea, Japan and Taiwan to the seven shows, the series were to have premiered exclusively on Paramount+ in the U.S., Canada, U.K., Australia, Latin America, Brazil, Italy, France, Germany, Switzerland and Austria. “Quality Korean content is a key piece of Paramount+’s global offering, and we’re expanding our roster of originals to continue to provide entertainment with captivating narratives and performances that transcends borders,” said Marco Nobili, EVP and GM, Paramount+ International, in April last year. Meanwhile, Sony Pictures and private-equity giant Apollo emerged as prospective bidders for Paramount Global but are “backing away” from their $26 billion all-cash offer to buy the entire company, the New York Times reported on May 17.
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