Paramount Skydance merger creates streaming powerhouse with plans to combine Paramount+ and HBO Max

Paramount Skydance has announced plans to combine Paramount+ and HBO Max into a single streaming service, creating a powerhouse platform with over 200 million subscribers once the company completes its $110.9 billion acquisition of Warner Bros. Discovery.

Quick Facts

• Paramount Skydance CEO David Ellison revealed the merger plan on March 2, 2026, during an investor call.
• The combined streaming service would reach roughly 200 million direct-to-consumer subscribers globally.
• Warner Bros. Discovery shareholders approved the $110 billion deal on April 23, 2026.
• The acquisition is expected to close in the third quarter of 2026, pending regulatory clearance.

The paramount skydance merger of the two streaming giants follows the completion of Skydance Media’s $8 billion acquisition of Paramount Global in August 2025. CEO Ellison stated during the March 2026 investor call, “We do plan to put the two services together, which today gives us a little over 200 million direct-to-consumer subscribers.”

The combined platform would position Paramount Skydance alongside Netflix, Disney+, and Amazon Prime Video as a major global streaming competitor. According to reporting from The New York Times, executives said a combined streaming app would have roughly 200 million subscribers total, putting Paramount-Warner in the same league as Disney and Amazon. However, Netflix and YouTube would still easily outrank everyone.

Paramount Skydance announced the definitive agreement to acquire Warner Bros. Discovery on February 27, 2026. The deal includes the Warner Bros. film studio, HBO Max streaming service, Discovery+ content, and properties including HGTV and the DC Universe. Warner Bros. Discovery shareholders voted to approve the merger on April 23, 2026, clearing a major regulatory hurdle.

The paramount skydance merger strategy aims to consolidate streaming operations and reduce costs by eliminating duplicate services. Paramount has indicated that the HBO brand would “operate with independence” within the combined entity, though the technical integration of both platforms into a single app is planned. The company plans to implement this consolidation after regulatory approval and deal closure.

Sources

• NBC News — Paramount Skydance’s plan to combine Paramount+ and HBO Max announced March 2, 2026.
• The New York Times — Combined streaming platform would have roughly 200 million subscribers, placing it alongside Disney and Amazon.
• NPR — Warner Bros. Discovery shareholders approved the $110 billion merger on April 23, 2026.
• Wikipedia — Paramount Skydance announced definitive agreement with Warner Bros. Discovery on February 27, 2026, for $110.9 billion at $31 per share.