Sony Will Shut Down PlayStation Vue Early Next Year
Sony's attempt to compete with cable through a slimmed down subscription service is on the way out.
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Sony is reportedly considering selling its streaming service, PlayStation Vue. The service was pitched as a low-cost replacement for cable subscriptions, offering bundles of TV networks at various tiered prices.
The Information reports that Sony is looking for a buyer for both the streaming technology and subscriber list, composed of roughly half a million households. The company has reportedly enlisted Merrill Lynch to help facilitate the sale, and has already approached the sports streaming platform FuboTV--though that company declined to purchase.
Sony has a number of hurdles to overcome that could be preventing a sale, however. Its content packages may not align with the interests of potential buyers, so any sale could require the purchaser to renegotiate the lineup. Sony also doesn't host any original content on its platform.
PlayStation Vue plans start at $50 per month, with an Ultra plan that goes as high as $85 per month with premium channels HBO and Showtime. Despite bearing the PlayStation name, the service isn't tied only to PlayStation devices.
The move comes as streaming giants like Netflix and Hulu are facing increased competition from upcoming services like Apple TV Plus and Disney Plus.
