Paramount+ and Showtime merge, announce launch date and price hike.

Paramount+ with Showtime streaming service will launch on June 27 for $11.99 a month, $2 more than the previous price for a Paramount+ subscription. The merger of the two streaming services will result in a content impairment charge between $1.3 billion to $1.5 billion in the first quarter, but it expects $700 million in future annual expense savings. The move comes amid heated competition in the streaming space, with Warner Bros. Discovery launching its new Max streaming plans priced between $9.99 and $19.99.