US media giants Warner and Paramount plan merger
If the plans become reality, it would create one of the world's largest entertainment groups. According to reports, the bosses of Warner Bros. Discovery and Paramount Global are holding initial talks about a merger. This could successfully attack streaming giants.
According to media reports, the US media and entertainment giants Warner Bros. Discovery and Paramount Global are examining a merger. The US news portal "Axios" reported, citing informed sources, that Warner Bros. Discovery CEO David Zaslav and Paramount CEO Bob Bakish spent several hours discussing a possible merger on Tuesday. Other media such as the US news channel CNN, which belongs to Warner Bros. Discovery, and the "Wall Street Journal" also reported on the meeting. According to these reports, the talks are at an early stage with an open outcome.
Warner Bros. Discovery includes the Hollywood studio Warner Bros. as well as the channels CNN, HBO and Discovery. The group was created in 2022 through the acquisition of WarnerMedia by Discovery for 43 billion dollars (around 39 billion euros today). Paramount includes the film studio Paramount Pictures, the television giant CBS and the music channel MTV.
According to "Axios", CEOs Zaslav and Bakish discussed ways in which the two groups could benefit from each other's strengths. For example, the streaming services could be merged to provide more competition for the industry giants Netflix and Disney+.
Warner Bros. Discovery has a market value of 28.4 billion dollars as measured by the share price at the close of trading on Wednesday. The market value of Paramount is around 10.3 billion dollars. The reports of a possible merger caused Warner's share price to fall by more than five percent.
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If successful, the proposed merger between Warner Bros. Discovery and Paramount Global would create a formidable entity in the global entertainment industry, rivaling the likes of Netflix and Disney+. Should the negotiations lead to a combination of their streaming services, it could provide a significant challenge to these streaming giants.
Source: www.ntv.de
