The next entertainment mega deal may be on the horizon.
Warner Bros. Discovery CEO David Zaslav and Paramount Global CEO Bob Bakish held a meeting this week to discuss the possibility of a merger between the companies, Axios reported.
A deal, if it comes to fruition, would bring together two of the entertainment industry’s biggest players, with WBD owning the Warner Bros. film and TV studios, HBO, and the former Turner and Discovery cable channels. it also operates the Max streaming service.
Paramount owns CBS, Paramount Pictures and its robust film and TV studios, and the former Viacom cable channels.
Such a deal would likely be attract less regulatory scrutiny than other potential mergers, with WBD lacking any domestic broadcast network, and with mostly synergistic businesses. The biggest source of friction would likely be combining the two legacy film and TV studios.
Both Zaslav and WBD board member John Malone have said publicly in the last month that they see “opportunistic” deals, with many observers speculating that they had their eyes set on Paramount. Shari Redstone, who controls Paramount through her family holding company National Amusements, is also said to have entertained talks about her NAI’s controlling stake in Paramount.
Axios’ Sara Fischer first reported the meeting. Spokespersons for both WBD and Paramount declined to comment.
More to come.
