One of Hollywood's biggest entertainment conglomerates could be getting even bigger amid reports that Warner Bros. Discovery and Paramount are in merger talks.
Axios reports that Warner Bros. Discovery CEO David Zaslav has met with Paramount CEO Bob Bakish to discuss a potential deal to consolidate the two industry giants. The potential deal would likely result in the eventual consolidation of the Max and Paramount+ streaming services, and it would add a raft of big franchises to Warner Bros. Discovery's portfolio, including Star Trek and more.
IGN can corroborate Axios' reporting. We have reached out to both Paramount and Warner Bros. Discovery for comment.
According to Axios, the meeting between Zaslav and Bakish at Paramount's headquarters lasted "several hours." Among other things, they reportedly discuss how Paramount+ and Max could compete together with Disney and Netflix. Axios also reportedly hired an unspecified bank to explore the deal further.
Another industry earthquake
Should the deal go through, it represent another earthquake for an industry that has been repeatedly shaken by major deals. Warner Bros. is coming off its own $43 billion merger with Discovery, which was completed back in April 2022. That deal resulted in Discovery Plus and HBO Max being merged into a single platform, among a host of other changes.
It also had major ramifications for the entertainment industry, resulting in a large number of cancellations and other changes. They include the controversial cancellation of the live-action Batgirl film and waves of painful layoffs.
Paramount has had its own problems as it has struggled amid fierce competition in the streaming landscape. In our review of Paramount+ for our State of Streaming series, we said the service is "still growing" but that Star Trek is a highlight. Other major Paramount properties include Nickelodeon, which in turn has the rights to franchises like Teenage Mutant Ninja Turtles. Paramount+ is also the home of Champions League soccer in the U.S.
The potential mega-merger comes against the backdrop of continued uncertainty in the streaming space, which has seen multiple services lose billions of dollars. This has led to talk of mergers, particularly for Paramount, which has proven to be one of the smaller fish in the streaming pond.
As for Zaslav, he has repeatedly said that WB Discovery is not for sale. But it seems that mergers definitely aren't off the table.
Kat Bailey is IGN's News Director as well as co-host of Nintendo Voice Chat. Have a tip? Send her a DM at @the_katbot.
