Is my HBO safe? What the Paramount-WBD merger means for the future of CNN, movies, and more.
David Ellison controls HBO and the Warner Bros. studio after forming Skydance. Here's what the Paramount-WBD merger means for HBO Max and CNN.
Skydance, the entertainment conglomerate led by David Ellison, has completed its mega-merger with Warner Bros. Discovery, acquiring control of HBO, HBO Max, CNN, CBS, Paramount+, Pluto TV, the Warner Bros. studio, Paramount Pictures, and cable networks like TNT and HGTV.
Pending the development of a unified streaming platform, HBO Max and Paramount+ will operate as separate services for the near future. To mitigate costs, Skydance plans to introduce a discounted bundle that combines both streaming services. The streaming arm of Skydance will be overseen by Casey Bloys, the current HBO chief.
CNN and CBS will maintain their distinct brand identities for the time being, with CNN CEO Mark Thompson staying in his position and Ellison assuring there will be no interference in news coverage. However, there is potential for collaboration between CNN and CBS, such as shared resources or talent.
Skydance has committed to releasing 30 films in theaters by 2027, 2028, and 32 annually from 2029 onwards, with at least two-thirds of these films being wide releases and at least four being independent films each year. Warner Bros. and Paramount Pictures are set to maintain a steady stream of theatrical releases, with Skydance pledging not to sell their respective film studios until 2032.
The cable channels of both Warner Bros. Discovery and Skydance will be separately negotiated for the next decade to avoid potential divestment of assets, ensuring the status quo in the pay-TV market.
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