David Zaslav, Warner Bros. Discovery CEO and Bob Bakish, CEO of Paramount Global, are in talks about a potential merger. The talk took place in New York City on Tuesday, according to AXIOS’s Sara Fischer.
As per the report, the merger, if it happens, would subsequently produce an expansive news and entertainment organisation. Further, it suggests that it would lead to more industry-wide amalgamation.
Zaslav had also discussed a deal with the owner of Paramount’s parent business, Shari Redstone. Warner Bros. Discovery currently stands at over $29 billion and Paramount is over $10 billion.
The discussion between Bakish and Zaslav went on for many hours and was held at Paramount’s Times Square headquarters. The business talk shed light on many issues, including how their merger could support one another in the rising competition of streaming services.
How Paramount+ and Max can join hands to counter effectively the competition of Netflix and Disney+. National Amusements Inc. is the parent company of Paramount Global. A source from the report has cited that the potential of WBD buying NAI is there.
WBD’s wide-reaching objectives might be used to further Paramount’s services and in turn, the services rendered by Paramount could help WBD’s future objectives.
Other than this, the merger of CNN and CBS and other shows such as “NCIS”, “Criminal Minds”, TruTV, and Investigation Discovery are also hinted at. March Madness TV rights are also shared by CBS and Turner Sports (WBD). The debt condition of Paramount is also instrumental in the organisation finding a merger.
A potential merger between Warner Bros. Discovery and Paramount would, for the first time, combine the footprint of CBS Sports and Turner Sports.
The two currently share TV rights to March Madness. pic.twitter.com/9Z9QZr0Uov
— Front Office Sports (@FOS) December 20, 2023
However, the negotiations are still in their initial stages and there are chances the contract might not culminate. The Big Tech in the media and its further impact is a turning point that will greatly influence the decision.
