AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,809 Increased By 41.1 (0.42%)
BR30 29,711 Increased By 311.1 (1.06%)
KSE100 92,406 Increased By 468.1 (0.51%)
KSE30 28,874 Increased By 129.9 (0.45%)
Life & Style

Warner Bros Discovery, Paramount Global met to discuss potential deal: source

Published December 21, 2023
Zoë Kravitz as Selina Kyle and Robert Pattinson as Batman in Warner Bros. Pictures’ action adventure ‘The Batman.’ Photo: Warner Bros. Pictures
Zoë Kravitz as Selina Kyle and Robert Pattinson as Batman in Warner Bros. Pictures’ action adventure ‘The Batman.’ Photo: Warner Bros. Pictures

Warner Bros Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish to discuss a potential deal between the two companies, a source told Reuters on Wednesday.

The talks were first reported by Axios on Wednesday, citing multiple sources.

Zaslav has also spoken to Shari Redstone, who owns Paramount’s parent company, about a deal, Axios reported, adding the meeting between Zaslav and Bakish lasted several hours.

Apple, Paramount discuss bundling their streaming services

It is unclear whether Warner Bros would buy Paramount Global or its parent company, National Amusements Inc (NAI), the source told Reuters. Axios said both options were on the table.

Warner Bros and Paramount did not immediately respond to Reuters’ requests for comment.

Paramount is controlled by the Shari Redstone-led media company that owns 77% of Paramount’s Class A voting shares.

Talks between Warner Bros and Paramount are still early, and may not ultimately result in a deal, according to the Axios report.

In April last year, AT&T’s WarnerMedia unit and Discovery merged to become Warner Bros Discovery, with a portfolio that included Discovery Channel, Warner Bros. Entertainment, CNN, HBO, Cartoon Network; streaming services Discovery+ and HBO Max; and franchises such as ‘Batman’ and ‘Harry Potter’.

Earlier on Wednesday, Bloomberg News reported Paramount was in talks to sell its Black Entertainment Television network to a management-led investor group.

There have been other reports of takeover interest in Paramount, which has a market cap of $10.5 billion and long-term debt of about $15.6 billion.

Warner Bros shares closed about 6% lower on Wednesday, while Paramount shares fell about 2%.

Comments

Comments are closed.