Warner Bros. Discovery and Paramount are reportedly in talks to discuss a potential merger of both companies, according to a recent report from Axios and Variety.
Axios notes that Warner Bros. Discovery CEO David Zaslav and Paramount Global CEO Bob Bakish met with one another on Tuesday in New York City.
The details of the meeting are unknown, but the report mentions that the pair “discussed ways their companies could complement one another,” including the idea of having one singular streaming service could better compete against platforms like Netflix or Disney+.
Details of what a potential merger would look like are unknown as of now
Zaslav has also reportedly met with Shari Redstone, who owns Paramount’s parent company, about a potential deal as well. According to Variety, sources note that Warner Bros. Discovery executives felt they had to move quickly, after reports began surfacing that Skydance had spoken with Redstone about buying her stake in National Amusements Inc.
As of now, it’s unclear just how a merger would go, but Axios’ report claims that both Warner Bros. Discovery buying Paramount Global and its parent company, National Amusements Inc., have been discussed and “are on the table.”
Talks seem to be deep enough that Warner Bros. Discovery is said to have hired bankers to begin exploring the deal. Warner Bros. Discovery itself was formed following a merger in 2022 that saw Discovery Communications acquire WarnerMedia from AT&T.