Warner Bros Discovery and Paramount Global discuss possible $38bn mega-merger

Global media giants’ bosses reportedly discuss tie-up to better compete with Disney+ and Netflix

Warner Bros Discovery and Paramount Global are reportedly in early stage talks about a merger that could bring two of the world’s largest media firms under one roof with a combined market value of $38bn (£30bn).

It is understood that Warner Bros chief executive David Zaslav discussed a potential merger – that could bring together HBO and CNN with CBS News and the hit Mission: Impossible films – while having lunch with his counterpart Bob Bakish at Paramount’s offices in New York this week.