Paramount explores Noggin and BET Media sales

Paramount Global, the company behind streaming platform Paramount+, is reported to be plotting the sale of online kids platform Noggin. News that the company wants to sell the service follows similar rumours that it is also looking to divest BET Media.

Paramount has not commented on the Noggin rumours, but the Wall Street Journal cited people familiar with the situation as sources. Under Paramount’s proposals, it would retain a minority stake in the business – and attempt to turn it into an interactive learning platform. No potential buyers or price tag have been suggested as yet.

Noggin, which currently streams hit shows such as Paw Patrol and Peppa Pig, was initially created as a joint venture in 1999 between Paramount-owned Nickelodeon and Sesame Workshop. Nickelodeon later acquired SW’s stake and transformed Noggin from a TV channel into a streaming platform. However its ongoing role as a standalone service has not really been clear since Paramount launched Paramount+ and started moving towards a centralised streaming model.

The situation is similar with BET, which has operated semi-independently under Paramount ownership – with its own channel and streaming identity. Paramount bought BET for $2.3bn in 2000 but has not decided how it fits into its streaming proposition going forward. Again, reports suggest it would like to retain a minority stake after a sale. Byron Allen and Tyler Perry have been mooted as possible buyers,

Meanwhile Paramount is still working on the integration of its prestigious Showtime brand into the Paramount+ architecture. In February, the company announced plans to increase its subscription prices to offset weakness in group ad revenues and the high cost of competing with rival streaming platforms like Disney+ and Netflix.

Currently, it looks as though the company is keen to focus its energies and investment on Paramount+ and its fast-growing AVOD/FAST platform Pluto TV.