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Paramount (PARA) has secured a major victory with a new multi-year distribution deal with Charter Communications (CHTR), ensuring that all of Paramount’s networks, including Showtime, CBS, and Paramount+, will continue to be carried by Charter’s Spectrum TV. The deal also includes a bonus for subscribers to Charter’s largest tier, who will now receive the ad-supported versions of Paramount+ and BET+ at no extra cost.

The financial terms of the agreement were not disclosed, but analysts are hailing the deal as a crucial move for Paramount as it navigates potential buyout offers from Skydance Media, Apollo Global, and Sony. MoffettNathanson analyst Robert Fishman noted that Charter’s significant influence in the TV Media segment could have posed a serious threat to Paramount if negotiations had not gone smoothly.

The deal with Charter comes on the heels of a high-profile dispute between Disney (DIS) and Charter Spectrum last year, which resulted in Disney pulling its channels from Charter systems. The resolution of that conflict saw Charter offering select Disney streaming services at no additional cost to consumers, highlighting the importance of distribution agreements in the media industry.

With the Charter deal now secured, Paramount is in a stronger position to pursue potential strategic actions or deals. Analysts believe that the company’s recent leadership changes, including the establishment of an Office of the CEO, may signal a renewed focus on long-term planning and growth.

Overall, the Paramount-Charter distribution deal is seen as a significant milestone for the company as it seeks to solidify its position in the ever-evolving media landscape and explore new opportunities for expansion and partnership.