Media conglomerate Warner Bros Discovery and Paramount Global are in talks for a possible merger, according to CNN and Axios. A deal that, if it goes through, would result in a new news and entertainment giant capable of rivalling Netflix, Disney and Comcast. Warner Bros. CEO David Zaslav and Paramount CEO Bob Bakish have met at Paramount’s NY headquarters.
The potential merger between Warner Bros. Discovery and Paramount Global would seek to combine their assets, which span television, film, sports and streaming services, with the aim of achieving greater scale and operational efficiencies. Specifically, both entities would consider merging their premium streaming services, read (HBO) Max and Paramount+, to compete with streaming giants such as Netflix or Disney+, which has also currently completed the acquisition of Hulu.
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