Paramount is shutting down Showtime Sports, a brand that has been in existence for nearly 38 years. The move, which will happen by the end of the year, will lead to an undetermined number of layoffs, including Showtime Sports President Stephen Espinoza — who has run Showtime Sports since 2011. When contacted about the move, Paramount Global released the following statement: “As we evolve our strategy to more efficiently allocate resources and align our content offering across the business, we’ve made the difficult decision not to move forward with boxing and other content produced by the Showtime sports team. Showtime will continue to air and support the remaining 2023 boxing slate and honor obligations through the end of the year.” Espinoza also released a statement that read in part, “The company’s decision is not a reflection of the work we have done in recent years, nor of our long and proud history. … Unfortunately, in a rapidly evolving media marketplace, the company has had to make difficult choices allocating resources, resetting priorities and reshaping its content offering. While today’s news is certainly difficult and disappointing, it is entirely out of our control.” As a result of the move, Showtime will be getting out of the boxing category, sources told SBJ. Paramount still owns the MMA company Bellator but has been in the market trying to sell it for months.
CONSOLIDATING RESOURCES: Showtime Sports’ documentaries and digital programming — including the Showtime Basketball brand — also will be going away at the end of the year. Part of the reason for the move is that Paramount has a sports division — CBS Sports — that produces content for broadcast and cable TV, plus the Paramount+ streaming service. It’s not known what sports — if any — Showtime will continue to carry. But starting next year, any sport on Showtime will be produced by CBS Sports. It’s likely that CBS Sports will produce documentaries for Showtime over the next several years.
A PIECE OF SPORTS HISTORY: Showtime Sports launched in March 1986 with the Marvin Hagler-John Mugabi fight and quickly became known for its boxing slate. Showtime Sports and HBO Sports battled for decades for the top boxing matches. All told, it carried nearly 2,000 bouts, including Mike Tyson-Evander Holyfield and Floyd Mayweather-Manny Pacquiao. Showtime Sports went beyond boxing, carrying “Inside the NFL” from 2008-2021 and MMA matches from Strikeforce, EliteXC and, of course, Bellator.
Takeaways from the NWSL's impressive deal and from the Ally Tipoff while looking at NFL numbers at the mid-point of the season
SBJ I Factor: Chris Allphin, presented by Allied Sports SBJ I Factor presented by Allied Sports features an interview with Chris Allphin, executive vice president of Elevate Sports Ventures. Allphin, a member of Sports Business Journal’s Forty Under 40 class of 2015, sat down with SBJ’s Bret McCormick to talk about his career path, his evolution as a leader, and the importance of protecting the live experience in sports and bringing communities together. SBJ I Factor is a monthly podcast offering interviews with executives who have been recipients of one of the magazine’s awards, such as Forty Under 40, Game Changers and others.
Shareable URL copied to clipboard!
https://www.sportsbusinessjournal.com/Articles/2023/10/17/paramount-shutting-down-showtime-sports.aspx
Sorry, something went wrong with the copy but here is the link for you.
https://www.sportsbusinessjournal.com/Articles/2023/10/17/paramount-shutting-down-showtime-sports.aspx
Register for a free SBJ account to unlock one extra article per month.
© 2023 Leaders Group. All rights reserved.The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group.
© 2023 Leaders Group. All rights reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group.
Already a subscriber? Click below to sign in.
Upgrade your subscription to get all the news you need:
Adding SBJ weekly content will give you the comprehensive view of sports business with:
Already a subscriber? Click below to sign in.
Upgrade your subscription to get all the news you need:
Adding SBJ daily content will give you the comprehensive view of sports business with: