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 potential merger. In response to Axios, Warner Bros. Discovery CEO David Zaslav met with Paramount International CEO Bob Bakish and Shari Redstone, who owns Paramount’s mother or father firm, about putting a deal to create a brand new media titan by way of their mixed forces.
What’s attention-grabbing is that at the moment, WBD’s market worth sits at round $29 billion and Paramount’s at about $10 billion, making the merger seem 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 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 International 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. Speak about a solution to finish the tumultuous yr at a number of 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 put up when and if we hear extra.
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