The owner of CBS, MTV and UK broadcaster 5 could be on the verge of submitting a bid for Warner Bros Discovery, with one of the world’s richest men backing the deal.
- Surprise move could trigger a major shake-up of the UK and Irish TV and streaming market.
Paramount Skydance is reportedly preparing a bid to acquire Warner Bros Discovery (WBD), a move that could reshape the global media landscape. According to U.S. media reports, the ambitious deal may be backed by Oracle co-founder Larry Ellison, who briefly surpassed Elon Musk this week as the world’s richest individual.
If successful, the merger would unite powerhouse brands including CBS, MTV, CNN, and HBO under one umbrella. In the UK, the combined entity would encompass Channel 5 and WBD’s stake in TNT Sports, significantly expanding its broadcast footprint.
The Wall Street Journal broke the story on Thursday, triggering a 27% surge in WBD’s share price. However, sources close to the talks caution that no formal offer has been made, and the deal remains speculative.
Leaks of this nature—often attributed to “people familiar with the matter”—are common in high-stakes corporate negotiations, serving to signal intent or test market reaction. So far, both Paramount Skydance and WBD have declined to comment.
Meanwhile, WBD is undergoing its own internal restructuring. Under current plans, from next year, the company will split into two entities. Post-split, Warner Bros will oversee streaming and studio operations, including TNT Sports in the UK and Ireland, while Discovery Global will manage traditional linear TV assets such as CNN.
UK and Europe impact
Should the merger proceed, the new entity would become the largest provider of pay-TV channels in the UK and Ireland. It would also forge a formidable streaming competitor, combining HBO Max and Paramount+ to challenge Netflix, Disney+, and Prime Video.
The move could disrupt Comcast’s European strategy, particularly its Sky Showtime joint venture with Paramount.
For UK and Ireland viewers, any merger may result in another change to how Paramount and WBD content is accessed. However, any existing arrangements with TV platform operators are likely to remain in place until they are due for renewal.
By: Marc Thornham | Image: Paramount Skydance & WBD Collage