Warner Bros Discovery and Paramount Global in discussions for merger: Reports

Warner Bros. Discovery Inc. and Paramount Global are currently engaged in preliminary discussions regarding a potential merger. However, these discussions are in their early stages and may not lead to an agreement.

According to media reports, David Zaslav, the CEO of Warner Bros. Discovery Inc., recently engaged in discussions with Bob Bakish, CEO, Paramount Global, during a meeting in New York on Tuesday.

The purpose of the meeting was to explore the potential for a deal between the two companies. Additionally, Zaslav had conversations with Shari Redstone, the head of Paramount’s parent company, whose family firm holds a controlling stake in Paramount.

The CEOs explored the possibility of merging their main streaming services, Paramount Plus and Max (formerly HBO Max), during their discussion. The aim is to enhance their collective strength to compete more effectively against rivals such as Netflix and Disney Plus, reports stated.

Warner Brothers Discovery includes brands like CNN, HBO, and its own film studios. On the other hand, Paramount's portfolio includes its movie studios bearing the same name and the CBS broadcasting group.

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