The long-anticipated merger between Paramount and Warner Bros. Discovery is now complete, with Skydance set to unify HBO Max and Paramount Plus into a single streaming service over time. The $110 billion deal brings together content from both platforms, creating a combined subscriber base of over 200 million.
Paramount CEO David Ellison first announced the plan to merge the services in March, before the Skydance acquisition was finalized. He expressed confidence that the consolidation would position the new entity to compete effectively with major streaming players. "We think the combined offering, and given the amount of content and what we can do from the tech side, really will put us in a position to be able to compete with the most scaled players in DTC," Ellison stated.
The parent company, Skydance, has referred to its direct-to-consumer streaming division as "Skydance DTC" and has not yet revealed the name of the unified service. A potential branding could involve "Skydance" or "Skydance Plus," potentially featuring dedicated hubs for content from HBO Max, Paramount Plus, and Discovery.
Despite the consolidation, HBO's creative leadership appears poised to maintain significant autonomy. HBO CEO Casey Bloys has been appointed co-chair and chief creative officer of Skydance DTC, overseeing original programming and strategy for both HBO Max and Paramount Plus. Ellison emphasized his desire for HBO to continue operating independently, stating, "Our viewpoint is HBO should stay HBO."
The merged entity has committed to enhanced output, promising at least 30 high-quality theatrical films and over 180 television shows and series annually. This increased production is expected to benefit both HBO and Paramount brands as they integrate into the new streaming ecosystem.