All eyes are on Warner Bros. Discovery and Paramount Pictures after the CEOs of every firm met Tuesday in New York Metropolis to discover a attainable merger. In keeping with Axios, Warner Bros. Discovery CEO David Zaslav met with Paramount International CEO Bob Bakish and Shari Redstone, who owns Paramount’s dad or mum firm, about hanging a deal to create a brand new media titan by means of their mixed forces.
What’s attention-grabbing is that presently, WBD’s market worth sits at round $29 billion and Paramount’s at about $10 billion, making the merger appear to be a aggressive transfer between two legacy studios to compete with Disney. Axios famous that Zaslav and Bakish’s assembly “lasted a number of hours” at Paramount’s headquarters in Occasions Sq.. The 2 have been mentioned to have laid out how each firms might merge their movie studios and streaming companies to compete with rival firms like Disney and Netflix.
The supply goes on to say that it’s “unclear whether or not WBD would purchase Paramount International or its dad or mum firm, Nationwide Amusements Inc. (NAI),” however each choices are on the desk. Warner Bros. Discovery have seemingly employed bankers to discover the deal. Discuss a strategy to finish the tumultuous yr at a few of the greatest movie studios in Hollywood.
io9 has reached out to each Warner Bros. and Paramount for a response to Axios’ report; a Warner Bros. spokesperson declined to remark. We’ll replace this submit when and if we hear extra.
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