Axios has learned from multiple sources that Warner Bros. Discovery CEO David Zaslav has met with Paramount Global CEO Bob Bakish to discuss a possible merger, something that, per the website, “would create a news and entertainment behemoth that would likely trigger further industry consolidation.”
Here’s what the two executives reportedly talked about and how realistic Warner Bros. Discovery and Paramount Global merging might be, per Axios, whose sources claim that the meeting lasted “several hours”:
- The duo discussed ways their companies could complement one another. For example, each company’s main streaming service — Paramount+ and Max — could merge to better rival Netflix and Disney+.
- It’s unclear whether WBD would buy Paramount Global or its parent company, National Amusements Inc. (NAI), but a source familiar with the situation says that both options are on the table.
- WBD is said to have hired bankers to explore the deal.
“Talks between WBD and Paramount are still early and may not ultimately result in a deal,” Axios clarified. “But given the acceleration of cord-cutting and the growing encroachment of Big Tech on media, neither company can remain on the sidelines for long.”
In separate coverage, Variety noted that if such a merger were to take place, Warner Bros. Discovery would become the new home of even more recognizable film franchises, including Terminator and Transformers:
Warner Bros. Discovery would acquire top-tier properties from Paramount Pictures, including such film franchises as Terminator, Transformers, Mission: Impossible, Top Gun, A Quiet Place, Teenage Mutant Ninja Turtles, The Godfather, Paranormal Activity, Scream and Star Trek film franchises. The Warner Bros. Pictures stable includes the DC Extended Universe films, Harry Potter and Lord of the Rings movie franchises.
Warner Bros. Discovery was officially formed in April 2022 following Discovery Inc.’s acquisition of WarnerMedia from AT&T, which is reported as having received $40.4 billion in cash.