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The streaming wars have a new player in town. Comcast and Charter, the two biggest cable companies, are teaming up for a new national streaming platform.
Top line
Charter and Comcast will launch a 50:50 joint venture to develop a next-generation streaming platform across a variety of branded 4K streaming devices and smart TVs.
Between the lines
Comcast will license Flex, its aggregated streaming platform and hardware, as well as the retail business for its XClass TVs. The company will also contribute Xumo, the AVOD streaming service it acquired in 2020.
Charter will make an initial $900 million contribution, funded over multiple years.
“We’re
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