Paramount plans to acquire Warner Bros. Discovery for $111 billion and initiate streaming integration: Paramount+ and HBO Max merge into one

Tech Home March 3 News, Netflix announced last Thursday that it is abandoning its plans to acquire Warner Bros. Discovery and its subsidiary HBO, while Paramount is moving forward with a high bid of $11.1 billion (Note: the current exchange rate is approximately 762.546 billion RMB) to continue the acquisition.

On Monday, local time, Paramount CEO David Ellison announced during an investor conference call that after the acquisition is completed, the company plans to merge its Paramount+ and HBO Max into a single streaming service.

As we mentioned, we do plan to integrate these two services, which currently have over 200 million direct-to-consumer subscribers. We believe this will enable us to compete with industry leaders.

By mid-year, Paramount will complete the integration of three service platforms under a unified technology stack. We believe that the combined service, with its rich content and technological capabilities, will truly allow us to compete with the largest direct-to-consumer players.

Although the two platforms will merge, Ellison clearly stated that the HBO brand will continue to operate independently. He highly praised HBO and its CEO Casey Bloys: “Our view is that HBO should be HBO. They have built an extraordinary brand and are leaders in the field. We just want them to keep doing more.”

According to the terms of the agreement, Paramount will acquire all outstanding shares of Warner Bros. Discovery for $31 per share in cash. The merger still requires regulatory approval and is expected to be completed in the third quarter of 2026.

Once the merger is complete, popular series such as “Pittsburgh Medical Frontline,” “Euphoria,” and “House of Dragon” under HBO Max will coexist on the same platform with programs like “Oil Tycoon,” “Survivor,” and “South Park” on Paramount+, forming a powerful content matrix.