Warner Bros. Discovery and Paramount are negotiating a merger – Kommersant
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Heads of American media companies Warner Bros. Discovery and Paramount Global David Zaslav and Bob Bakish are negotiating a merger of companies – Warner wants to acquire its competitor. The publication reported this yesterday, December 20 Axios with reference to several sources. According to them, negotiations are at an early stage and may not lead to a deal.
According to sources, Mr. Zaslav has also already discussed this possibility with Shari Redstone, the head of National Amusements, which owns a controlling stake in Paramount. According to Axios, Warner could buy both Paramount and National Amusements, with both options being considered. Paramount’s market capitalization is estimated at $10.5 billion, while the company’s debts reach $15.6 billion. Previously, American media reported that Ms. Redstone was looking for a buyer for Paramount.
Warner Bros. Discovery was created in May last year by merging WarnerMedia, the media division of the telecommunications company AT&T, with the media company Discovery for $43 billion. The company’s portfolio includes assets such as Discovery TV channels, CNN, HBO, Cartoon Network, streaming services Discovery+ and HBO Max. Paramount’s assets include the film company of the same name, several television channels under the CBS brand, cable channels MTV, Nickelodeon, etc.
After information about the negotiations appeared, Warner shares fell by 5.6%, Paramount shares by 2%.
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