May 23 (Reuters) - Paramount Global ( PARAA ) has signed

a new multi-year content distribution deal with Charter

Communications ( CHTR ) for its full portfolio of linear cable

networks, the companies said on Thursday.

The companies did not disclose the financial terms of the

deal, in which the ad-supported versions of Paramount's

direct-to-consumer services, Paramount+ Essential tier and BET+

Essential, will be included at no extra cost to Charter's

Spectrum TV customers.

Charter will also make Paramount's direct-to-consumer

products available to its Internet-only customers at the

broadband and cable TV provider's retail stores. It will get the

revenue share for new paid subscriptions and ad-free upgrades.

The announcement come as bidders negotiate the purchase of

media conglomerate Paramount Global ( PARAA ), which owns a studio and

networks such as CBS, MTV, Comedy Central, among others.

Paramount's exclusive negotiations with Skydance lapsed

early in May, allowing the company to evaluate rival bids such

as Apollo and Sony Pictures' $26 billion offer.

Spectrum customers with Paramount+ Essential will get an

opportunity to upgrade to Paramount+ with Showtime plan, the

companies said.

Charter, one of the largest cable company by subscribers in

the U.S., will continue to carry CBS owned-and-operated

broadcast stations and all of Paramount's current cable networks

and Paramount+.

Last year, Disney and Charter had reached a similar deal

that brought back media giant's networks, including ESPN, to the

Spectrum cable service.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Arun

Koyyur)