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 doable merger. In keeping with Axios, Warner Bros. Discovery CEO David Zaslav met with Paramount World CEO Bob Bakish and Shari Redstone, who owns Paramount’s mother or father firm, about placing a deal to create a brand new media titan by means of their mixed forces.
What’s fascinating is that at present, WBD’s market worth sits at round $29 billion and Paramount’s at about $10 billion, making the merger look like 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 Instances Sq.. The 2 had been stated to have laid out how each corporations may merge their movie studios and streaming companies to compete with rival corporations like Disney and Netflix.
The supply goes on to say that it’s “unclear whether or not WBD would purchase Paramount World or its mother or father 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 method to finish the tumultuous 12 months at among the largest 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 publish when and if we hear extra.
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