Paramount+ and HBO Max to Merge Into One Streaming Service After Paramount Skydance Acquires WBD
Paramount Skydance acquired Warner Bros. Discovery after Netflix withdrew its competing bid. CEO David Ellison confirmed Paramount+ and HBO Max will merge into a single streaming service pending regulatory approval, with a shareholder vote expected in early spring 2026 and a September closing deadline. The combined entity would bring HBO, Max, Paramount+, MTV, Comedy Central, Showtime, and CNN under one roof.
Why it matters
Platform consolidation reshapes where talent ends up and what content gets greenlit. A merged Paramount-WBD service competing with Netflix and Disney+ creates a new power center with a larger budget pool and broader content needs. The integration period typically produces a backlog followed by a surge in new development orders. Agents with clients across both studio systems should map current deal relationships now before the org charts change.
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