Paramount Skydance has unveiled plans to combine Paramount+ and HBO Max into a single streaming service, following its recent agreement to acquire Warner Bros Discovery (WBD), the parent company of HBO.
Chief executive David Ellison confirmed the move during a call with investors, saying the merger would bring together some of television’s most recognisable titles under one platform. If completed, series such as ‘The Sopranos’, ‘Sex and the City’, ‘Succession’ and ‘Game of Thrones’ would sit alongside Paramount hits including ‘Yellowstone’ and ‘Survivor’.
Ellison said the combined service would have more than 200 million direct-to-consumer subscribers, positioning it to compete more aggressively with streaming leaders. “We think that really positions us to compete with the leaders in the space,” he said.
Despite the integration, Ellison emphasised that HBO would retain its distinct identity. “HBO should stay HBO. They’ve built a phenomenal brand,” he noted, praising HBO chief executive Casey Bloys and his team for their work.
No details have yet been shared about pricing structures or what the unified service will be called. Paramount and HBO did not immediately respond to requests for further comment.
The announcement comes just days after Paramount Skydance secured a $110 billion deal to acquire Warner Bros Discovery, concluding a prolonged bidding contest with Netflix, which reportedly capped its offer at $82.7 billion.
While Ellison expressed confidence that the deal would clear regulatory scrutiny, the merger is expected to face examination from competition authorities. Critics have warned about the implications of further consolidation within the media industry, arguing it could lead to higher subscription prices and fewer choices for audiences.
The acquisition would bring HBO Max, Warner Bros Studios and CNN into Paramount Skydance’s portfolio, which already includes CBS, Paramount Pictures and Showtime.
Some political figures have voiced concern about the broader impact of the merger. Democratic senator Elizabeth Warren recently described the deal as “an antitrust disaster”, warning that growing media concentration could limit diversity of content and viewpoints.
Questions have also been raised about the future direction of CNN amid recent leadership changes at CBS News.
