Skydance plans to combine HBO Max and Paramount Plus

Streaming platforms HBO Max and Paramount+ will eventually merge into a single service, Deadline and The Hollywood Reporter reported. Skydance chairman and chief executive officer David Ellison announced the plan at a press event following the completion of the merger bringing together Warner Bros. Discovery and Paramount. [1][2][3][4]

According to The Hollywood Reporter, the services will initially operate separately while the companies integrate their technology stacks. Ellison stated that bundling options will be available in the short term, though specific details have not yet been announced. Deadline and The Hollywood Reporter both reported that combining the tech stacks will take time, but Ellison noted that progress in artificial intelligence may accelerate the process. [1][2]

The merger between Paramount and Warner Bros. Discovery officially closed on October 6, 2026, according to Variety. The Hollywood Reporter reported that the deal was valued at 111 billion dollars, while Paramount Skydance originally announced its intent to acquire Warner Bros. Discovery for 31 dollars per share, valuing the business at 110.9 billion dollars. Funding was provided by the Ellison family, RedBird Capital Partners, and sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates. [3][4][8]

The transaction follows earlier plans by Warner Bros. Discovery to separate its linear television assets from its studio business, HBO, and the HBO Max streaming platform. Despite carrying 80 billion dollars in debt following the deal, Skydance intends to continue taking creative risks on original projects, The Hollywood Reporter reported. [7][8]