Overview
- Paramount Skydance will combine HBO Max and Paramount+ into a single streaming service after the Warner Bros. Discovery acquisition closes, with executives citing a footprint of about 200 million subscribers today.
- Ellison said HBO will operate with independence under Casey Bloys, and reporting indicates HBO is likely to appear as a sub-brand within the combined app, according to a person familiar with the plans.
- Theatrical commitments include roughly 15 films per studio each year and a 45-day exclusive window before PVOD, with longer runs for breakout hits.
- Company disclosures point to about $79 billion in net debt at close and a target of roughly $6 billion in efficiencies from consolidating tech stacks, real estate and corporate overhead.
- The all-cash offer values WBD at $31 per share with an expected Q3 2026 closing, subject to WBD shareholder approval and U.S. and international reviews, with Germany and Slovakia already signaling consent.