Katarzyna Petru
The streaming market may soon undergo one of the biggest transformations in recent years. If the acquisition of Warner Bros. Discovery by Paramount Skydance is approved unconditionally by regulators, there will be a merger of the HBO Max and Paramount+ services. This is a move that could genuinely alter the balance of power in the battle against Netflix, Disney+, and Prime Video.
111 billion dollars and the end of the race with Netflix
Paramount will pay around 111 billion dollars for Warner Bros Discovery and an additional 2.8 billion dollars for Netflix to withdraw from the previous deal. After Netflix's unexpected withdrawal from the auction, the path to finalising the transaction became simpler, though it still requires regulatory approval. David Ellison, CEO of Paramount Skydance, confirmed that the plan includes merging both streaming platforms. According to him, the new service would have over 200 million direct-to-consumer subscribers, allowing it to compete more effectively with market leaders.
One platform, huge portfolio
The merger would mean bringing together brands such as:
“Game of Thrones” and “The Sopranos” from HBO
the Warner Bros. franchises, including Harry Potter, Batman, and Dune
Paramount brands like Mission: Impossible, Star Trek, and Transformers
It's a massive library of films and series that could theoretically create one of the strongest content offerings in the market.
In Europe, the situation is complicated by the fact that Paramount+ operates within SkyShowtime, which may extend the integration process. The finalisation of the acquisition is not expected before Q3 2026.
HBO will remain HBO
No matter what the new platform will be called, Paramount declares that the HBO brand will remain separate. Ellison emphasised that HBO is a strong and recognisable brand that will continue to function as a distinct premium brand. The head of HBO, Casey Bloys, whose contract lasts until 2027, has not commented on future plans.
The merger of HBO Max and Paramount+ could create one of the largest players in streaming, with a powerful catalogue of films and series. The key question is whether regulators will approve the transaction without conditions and what the new, joint platform will look like. One thing is for sure, the VOD market in 2026 may look completely different than it does today.
Source: Paramount, flatpanelshd
