Warner Bros. Discovery and Paramount have held talks on a possible merger, according to a report by Axios.

The Axios report says it has heard from “multiple sources” that David Zaslav, CEO of WBD and Bob Bakish, ceo of Paramount Global, met this week in New York to discuss a possible deal.

Zaslav has also met with Shari Redstone, whose company National Amusements Inc holds a controlling stake in Paramount Global.

Paramount owns companies including Paramount Pictures, channels including MTV Nickelodeon and Comedy Central and broadcaster CBS with WBD containing the Warner Bros film studios, the MAX streaming service and HBO.

The merger would also bring together a huge stable of sports rights and could also bring together the companies’ streaming services to better compete against larger operators like Netflix and Disney+.

Jon Creamer

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