Warner Bros. Discovery is reportedly exploring the possibility of a merger with another major player in the entertainment industry, Paramount. According to sources cited by Axios, Warner Bros. Discovery CEO David Zaslav engaged in talks with Paramount CEO Bob Bakish on Tuesday regarding a potential merger.
The meeting occurred at Paramount’s headquarters in Times Square, where the CEOs discussed how their respective companies could complement each other. Among the potential strategies explored is the idea of combining Warner Bros. Discovery’s Max with Paramount’s Paramount Plus to create a more competitive offering in the streaming market, challenging rivals such as Netflix and Disney Plus.
In addition to discussions with Bakish, Zaslav reportedly also explored a potential deal with Shari Redstone, who heads Paramount’s parent company, National Amusements. Discovery is reportedly
We still don’t know whether Warner Bros. Discovery would buy Paramount or National Amusements if a merger actually does happen, but a source tells Axios that “both options are on the table.” The Federal Trade Commission declined to comment on the potential deal.
A merger would narrow the number of players in the entertainment and streaming industry even more after Warner Bros. Discovery just completed its massive merger with Discovery last year.