The proposed merger between Paramount Skydance and Warner Bros. Discovery will have subscribers to Paramount+ and HBO Max seeing those platforms merge into a single direct-to-consumer service.

Paramount CEO David Ellison outlined the plan during a Monday investor call, saying, “As we said, we do plan to put the two services together, which today gives us a little over 200 million direct to consumer subscribers.” He added that the combined scale would strengthen the company’s ability to compete with dominant streaming rivals.

Ellison noted that Paramount is already consolidating Paramount+, Pluto TV and BET+ onto one shared technology platform, with completion expected by mid-2026. He indicated the same strategy would likely apply to HBO Max if the deal closes, emphasizing that expanded content and improved tech capabilities would help the company rival the industry’s largest players.

While the platforms may combine, Ellison stressed that the HBO brand itself would retain creative autonomy under CEO Casey Bloys, whose contract runs through 2027. “Casey and his team do absolutely a remarkable job at HBO,” Ellison said. “Our viewpoint is HBO should stay HBO. They built a phenomenal brand. They are a leader in the space, and we just want them to continue doing more of it. But by bringing the platforms together, all of our content will be able to reach even a broader audience than we can do standalone.” Details about pricing, branding or whether HBO Max would function as a standalone section within the new service have not yet been disclosed.

The merger follows a competitive bidding process. Netflix had previously pursued Warner Bros. Discovery’s assets, but ultimately stepped aside after Paramount increased its offer. Warner Bros. Discovery’s board deemed Paramount’s proposal the superior bid, clearing the path for the planned combination — pending regulatory review.

If approved, the unified platform would immediately rank among the largest streaming services globally, with more than 200 million subscribers, positioning Paramount and HBO to compete more directly with streaming heavyweights.

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