Warner Bros. Discovery has hit the pause button on a possible Paramount Global merger, according to a new report by CNBC citing “people familiar with the matter” for the information. The report suggests that a deal between the two companies is now unlikely.
The suggestion that a merger was on the cards first surfaced back in December when Warner Bros. Discovery CEO David Zaslav reportedly met up with Paramount Global CEO Bob Bakish in New York City to discuss the possibility. At the time, it remained unclear if those talks would move any further forward.
According to the new report, discussions between Warner Bros. Discovery and Paramount Global have now stalled. This was after the initial December talks progressed to “more serious merger discussions in January,” according to the report. On Paramount’s side, the company has reportedly set up a special committee tasked with sifting through potential bids.
Speaking of which, it was previously reported that Comcast and Paramount had been in contact to discuss a potential merger which would bring together the Paramount+ and Peacock catalogs. While this new report seems to suggest that a Comcast acquisition is unlikely, a commercial partnership between the two companies remains a possibility, according to the same ‘people familiar with the matter.’
Before details of those Peacock talks emerged, Byron Allen offered to buy Paramount Global. Allen’s offer came a short time after Allen attempted to buy select Paramount Global assets, BET and VH1.
David Ellison’s Skydance Media also previously made a takeover offer for Paramount, with the new report indicating Skydance is still performing due diligence on a potential deal.
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