Paramount Skydance doesn’t intend to pick apart Warner Bros. Discovery if they’re able to acquire their competitor.
According to a new report from Bloomberg, the entertainment company plans to keep much of WBD together if merged, including keeping the creative teams for the two studios.
Though, sources told the outlet Paramount Skydance’s CEO David Ellison would plan to consolidate some aspects of the business. This would impact those in marketing and distribution departments.
Ellison’s plan reportedly also called for HBO Max to merge into Paramount+, doing away with the former so that only one streamer was left for the newly merged company. Per the outlet, Ellison thinks bringing the two rival streamers together will allow more eyeballs to land on TV and film properties — and make it a far more enjoyable experience for subscribers, too.
There are also no plans to sell off either Paramount or WBD’s cable networks, according to Bloomberg’s report. Apparently, there’s even been a suggestion that CNN would possibly share resources with CBS News, which is now being helmed by Bari Weiss.
Yet, it’s said Ellison has made no decision about the real estate tied to both Paramount and WBD, including both of their storied studio lots.
This update comes after Warner Bros. Discovery rejected three separate bids from Paramount — including one that was nearly $24 per share and was 80% cash and 20% stock. Ellison also offered WBD CEO and president David Zaslav a co-CEO and co-chairman title to sweeten the bid.
While Paramount may not be the only interested party — Apple, Amazon, Comcast and Netflix have been floated as potential suitors for WBD — it’s been reported that the company has the support of Trump administration, putting them in a favorable position.
Nonetheless, the M&A chatter has prompted outcry from the Writers Guild of America, who said on Thursday they’ll “work with regulators to block the merger.”
Representatives for Warner Bros. Discovery and Paramount Skydance did not immediately respond to TheWrap’s request for comment.
