Debt-laden Warner Bros. Discovery and Paramount consider merger
Enlarge / Media firms are looking for allies to help them take the coveted media throne. (credit: Warner Bros. Discovery)
The CEOs of Warner Bros. Discovery (WBD) and Paramount Global discussed a potential merger on Tuesday, according to a report from Axios citing "multiple" anonymous sources. No formal talks are underway yet, according to The Wall Street Journal. But the discussions look like the start of consolidation discussions for the media industry during a tumultuous time of forced evolution.
On Wednesday, Axios reported that WBD head David Zaslav and Paramount head Bob Bakish met in Paramount's New York City headquarters for "several hours."
Zaslav and Shari Redstone, owner of Paramount's parent company National Amusements Inc (NAI), have also spoken, Axios claimed.