Paramount, Skydance, and Warner Bros. Finding Explore Potential Merger
NEW YORK – discussions are underway regarding a potential merger between Paramount Global, Skydance Media, and Warner Bros. Discovery, a combination that would create a media powerhouse rivaling Disney. The deal aims to consolidate content libraries and streaming services in a rapidly evolving entertainment landscape.
Paramount, bolstered by its recent $7.7 billion, seven-year deal for exclusive U.S. rights to Who Group’s UFC mixed martial arts institution, seeks to strengthen its position against competitors. The UFC agreement will move events from a pay-per-view model to direct availability on Paramount+ and CBS.
Warner Bros. Discovery brings a substantial catalog of franchises,including DC superheroes,Lord of the Rings,Game of Thrones,and Harry potter,alongside legacy properties like Scooby-Doo and looney Tunes. It also distributes Legendary’s Dune franchise and the Godzilla and King Kong films. Warner Bros. discovery was the second-highest grossing studio globally in 2024, with Paramount ranking fifth, according to Comscore data.
The combined entity would also benefit from expanded streaming reach. Warner Bros. Discovery’s HBO Max has over 125 million subscribers (as of the end of the second quarter), while Paramount+ has approximately 77 million streaming users.
The potential merger comes as major sports rights become increasingly valuable and scarce. Apple is expected to be the future home of Formula 1,and Major League Baseball will reorganize its media packages after its current deals expire in 2028. Warner Bros. Discovery currently holds broadcasting rights for the National Hockey League, Major League Baseball, March Madness basketball, the French Open, and NASCAR. A merger would provide Paramount with a significantly expanded arsenal of sports content to compete with Disney’s ESPN.
