Subject to regulatory clearance of Friday’s deal between Paramount Skydance and Warner Bros Discovery, viewers face more major changes to UK TV and streaming services.
- Paramount planning to migrate HBO Max into Paramount+
- Champions League could end up remaining on TNT Sports
- Future of Discovery+ and Freeview channels up in the air again
24 hours after Netflix dropped out of the running for Warner Bros Discovery, Paramount was confirmed as the winner of the long-running takeover battle. While much of the attention has been on the US, in the UK, the combined company would bring HBO Max, Paramount+, Quest, 5, MTV, TLC, Comedy Central and CNN International under one roof.
The announcement comes only weeks after confirmation that HBO Max will launch in the UK and Ireland, alongside a shake‑up of Sky’s services. Viewers now face another wave of change.
The Paramount–Warner Bros. Discovery deal will create one of the world’s biggest entertainment groups. It’s expected to receive regulatory clearance in the US by early autumn. UK regulators may examine the deal in their own timescales.
How could the deal affect us in the UK?
1. The End of HBO Max
HBO Max launches in the UK and Ireland later this month as planned.
However, Paramount is expected to create an all-in-one premium streaming service. Sources close to Paramount have already indicated that HBO Max will be dissolved into Paramount+.
In a statement issued on Friday evening, Paramount confirmed it wanted to create a “global streaming competitor”. It plans to “unite the strengths of Paramount and WBD” to create “a premier direct-to-consumer [streaming] platform”.
In the interim, HBO Max, Paramount+ and Pluto TV will be combined into a new direct-to-consumer business unit.
Timescales for any change have not been confirmed. But it appears that TNT Sports streamers, who are only now migrating from Discovery+ to HBO Max, may face another change within the next 18 months. BT, which retains a share in TNT Sports, has not commented on the Paramount–WBD deal. The telecoms company had been hoping to sell its stake in TNT Sports.
The speed of change in the UK may also depend on contracts signed with distribution partners including Sky.
2. Champions League could stay on TNT Sports after all
In November 2025, Paramount won the UK rights to show most UEFA Men’s Champions League games, starting in mid-2027. The original plan was for the games to be shown on Paramount+.
Now that WBD’s share in TNT Sports looks set to transfer to Paramount, the games could remain on TNT Sports.
Competition and media regulators will first examine whether this aspect of the takeover raises any issues. Ultimately, Paramount has very little live sport—beyond what is shown free‑to‑air on 5 – and Paramount+ is not yet known as a major sporting destination. Therefore, this is unlikely to be a significant hurdle
3. WBD Freeview channels and Discovery+ won’t be spun-off
Warner Bros. Discovery had been preparing to split the business, a plan that would have continued if Netflix had succeeded in acquiring the company.
In the UK, this would have seen Freeview channels including TLC, Quest and DMAX transfer to Discovery Global, alongside the Discovery+ streaming platform.
In preparation, WBD had been boosting the profile of its linear channels and developing a new content pipeline for Discovery+ after TNT Sports leaves the service this month. The newly merged company will own a substantial number of channels, which may need to be rationalised as linear TV continues to decline.
Previously announced changes to Discovery+ following the launch of HBO Max are still going ahead. However, the deal means Discovery+ content could yet reunite with TNT Sports within an all-in-one Paramount+ streaming service.
A reminder: WBD had at one point planned to axe Discovery+ in favour of creating an all‑in‑one streaming service called Max. A similar outcome is now back on the agenda.
4. Channel 5 may gain more sports, but not the Olympics
At present, WBD offers a limited selection of free‑to‑air sporting highlights on its Quest channel. That arrangement dates back to the UK closure of Eurosport in February 2025, when the company reassured viewers that some events would be showcased on Quest after Eurosport content migrated to TNT Sports.
That arrangement already faced an uncertain future after WBD announced it was splitting, leaving TNT Sports UK and HBO Max under different management from Quest.
In the future, sports highlights and selected live sport may end up on Channel 5.
The broadcaster is permitted to bid for listed sports events, such as the FA Cup final, although it has not previously been able to spend heavily on major sports rights. In partnership with Paramount and TNT Sports, that may change. One sticking point is money: both Paramount and WBD are already burdened with significant debt
No free-to-air access to the Olympics until 2034 at the earliest
Although Paramount’s takeover of WBD will result in it taking over the rights to show the Olympics, it won’t be able to screen any coverage on free-to-air services. That’s because the current deal with the International Olympic Committee, covering 2026-2032, gives the European Broadcasting Union (EBU) the free-to-air rights in Europe.
In the UK, this means the BBC retains the rights (as EBU member) to screen limited live coverage. Any change can only start from the 2034 Winter Olympics.
5. News shake-up
One of the most controversial aspects of the deal is that CNN will come under the control of David Ellison, a supporter of US President Trump.
This has raised concerns about the future of CNN, which has long been a thorn in the side of the President. CNN is widely available in the UK on Sky, Virgin Media and streaming platforms.
Since Paramount itself was taken over by Ellison’s Skydance in 2024, there have been major changes at Paramount’s CBS News. New management has been accused of submitting to political interference. The organisation has been under scrutiny for its handling of politically sensitive stories. This includes its controversial decision to drop a 60 Minutes report critical of a Trump administration policy. US viewers were told the report was not “ready to air”. Meanwhile, it was broadcast in full in Canada that evening.
CNN staff fear major change and a loss of an independent voice. One outcome could be the merger of CBS News with CNN.
In the UK, Paramount owned 5 is not directly affected by this. Its news output is currently produced by ITN.
CBS News is currently in a newsgathering partnership with the BBC. CNN is historically the BBC’s biggest international news competitor.
Paramount will share more information on its plans in a call to investors on Monday.
By: Marc Thornham | Image: WBD and Paramount