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Paramount+ to increase prices for its streaming plans

Paramount Global's streaming service Paramount+ will raise prices for its plans after its merger plan with Skydance fell through.

National Amusements, which is owned by Shari Redstone, the controlling shareholder of Paramount, had previously agreed to economic terms of a merger with a consortium including David Ellison's Skydance, before ending the deal talks. The three leaders recently laid out their plan to turn around the company at Paramount's annual shareholder meeting, in the event the deal with Skydance fell through. The strategic priorities — with an eye toward lowering Paramount's debt — included exploring streaming joint venture opportunities with other media companies and eliminating $500 million in costs, as well as divesting noncore assets.

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