Overview
- Paramount Skydance said it will combine HBO Max and Paramount+ into one platform after closing its $31‑per‑share takeover of Warner Bros. Discovery, a deal valued at roughly $110–111 billion.
- The unified service is projected to cover about 200 million direct‑to‑consumer subscriptions based on current totals, with branding, pricing and timing to be determined over the coming years.
- Leadership pledged that HBO will operate with creative independence under Casey Bloys and reaffirmed a theatrical plan of at least 30 releases annually across the two studios with a 45‑day window before PVOD.
- The company expects about $79 billion in net debt at close and is targeting roughly $6 billion in savings, primarily from consolidating streaming tech stacks, cloud providers, real estate and other overhead.
- The merger faces U.S. and international antitrust review, including scrutiny signaled by California Attorney General Rob Bonta, as industry watchers flag potential job cuts and editorial concerns; executives said there are no current plans to divest linear networks and highlighted a combined CBS Sports and TNT Sports portfolio.