Warner Bros Discovery and Paramount Global are into talk for merger - Sources

Warner Bros Discovery and Paramount Global are into talk for merger - Sources

Both companies chief met on Wednesday for potential merger, cited by sources.

Warner Bros Discovery

Mumbai: Us-based International conglomerates Warner Bros Discovery and Paramount global chiefs met on Wednesday, sources told Reuters. Both companies attributed to making international content are planning to collaborate for upcoming potential projects. For that purpose, Warner Bros Discovery CEO David Zaslav met Paramount Global CEO Bob Bakish allegedly on Wednesday.

Still, it is not clear that Warner Bros may buy Paramount Global or its parent company ' National Amusements Inc '(NAI) as per sources speak to the news agency Reuters. According to the Axis report talks between both conglomerates are in the initial stage, so talks have not converted yet into a deal. Paramount is under the management of Shari Redstone led media which owns 77 per cent stakes in Paramount class A.

In April last year, Warmers Media unit and Discovery merged and formed Warner Bros Discovery, a portfolio that included Discovery Channel, Warner Bros. Entertainment CNN, HBO, Cartoon Network streaming services Discovery+, HBO Max, and franchises such as Batman and Harry Potter. Earlier Bloomberg News reported Paramount was in talks to sell its Black Entertainment Television network to a management-led investor group.

As per the Bloomberg report old media companies struggle with the transition to streaming. Both companies can collaborate to build infrastructure for film studios and TV networks. If these two media merged it could become the largest media house other than Disney.