As Hollywood consolidation continues, another streaming service is biting the dust. This June, the newly formed Paramount Skydance will shut down BET+, which currently has around 3.5 million subscribers, and move its content to Paramount+, which currently has 80 million.

The news, reported by Deadline, was announced internally last week by Louis Carr, president of BET Networks. Paramount Skydance was able to merge the two streaming services after it bought out Tyler Perry Studios’ stake in BET+, which was believed to be 25% of the streamer and worth tens of millions of dollars, Deadline added.

Originally published on tvinsider.com, part of the BLOX Digital Content Exchange.

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