Paramount-Warner Merger Puts HBO Max and Paramount+ Under One Roof
Paramount Skydance completed its acquisition of Warner Bros. Discovery on Tuesday, Oct. 6, creating a media giant that brings together two of Hollywood’s oldest studios, CBS News, CNN, HBO Max and Paramount+. The deal carries an enterprise value of about US$110 billion, and the combined company expects to generate roughly US$70 billion in annual revenue, […]
Paramount and Warner Bros. Discovery merged on October 6, 2026, forming a media giant valued at approximately US$110 billion. The combined company expects to generate around US$70 billion in annual revenue, making it one of the largest mergers in entertainment history.
As of now, HBO Max and Paramount+ remain separate streaming services, operated independently without any announced changes to subscriptions, prices, or content. The merger is expected to eventually unify these two services into a single platform, but the timeline, branding, and pricing structure are yet to be determined.
David Ellison, who led Paramount Skydance, will serve as chairman and CEO of the merged company. He emphasized the historic significance of the deal, stating it's not just for Skydance but for the entire industry.
The two services currently operate in more than 100 countries and together have over 200 million subscribers, slightly behind Netflix's 325 million subscribers. A discounted bundle of HBO Max and Paramount+ could be introduced before the full integration, with a launch date, product name, and pricing structure yet to be announced.
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