Now that the merger between Paramount and Skydance has been finalized, the newly named Paramount Skydance is ready to do some more shopping. The Wall Street Journal reports that the David Ellison-backed company is putting together a majority cash bid for ownership of fellow movie studio Warner Bros. Discovery.
While Skydance only just recently closed its Paramount deal, talks of a Warner Bros.-Paramount merger date back to December 2023.
A curious detail of the news is that the bid is said to include not just the movie studio business, but the company’s collection of cable networks. That might run counter to WBD’s previously announced plan to split the company into two separate entities: One half will be the Streaming & Studios division known as Warner Bros. that includes Warner’s vast film and TV libraries, as well as Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max. The other half will then be known as Discovery Global, including assets like CNN, TNT, TBS, and the Discovery networks. Deadline reports that this split is currently anticipated to take place in April 2026.
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The new Paramount-Skydance deal was immediately followed up by the South Park season premiere mocking its new corporate ownership. One can only imagine the fun Last Week Tonight with John Oliver will also have, should this merger go through.
