Paramount reportedly met Warner Bros Discovery for potential mega deal
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The news: Entertainment giants Warner Bros Discovery and Paramount have met to discuss a potential merger, Axios reported citing unnamed sources.
The numbers: WBD is worth USD29 billion ($43 billion) and Paramount Global's market capitalisation is USD10.3 billion. According to Reuters, which also reported on the talks, it is unclear whether Warner Bros Discovery would by Paramount Global or its parent company, National Amusements Inc.
The context: Any potential merger could have interesting ramifications for the hotly contested online streaming space, where Paramount+ and WBD's Max lag sector leaders Netflix and Disney+. The deal would also have implications for media consolidation, as Paramount Global-owns CBS News and WBD controls CNN.
