HBO Max and Paramount+ to Merge, Creating Streaming Giant

Paramount Skydance and Warner Bros. Discovery are set to combine their streaming services, HBO Max and Paramount+, into a single platform. This move aims to create a more competitive force in the increasingly crowded streaming market, boasting a combined subscriber base exceeding 200 million.

The Merger: A New Era for Streaming

The planned merger follows Paramount Skydance’s acquisition of Warner Bros. Discovery, finalized after Netflix withdrew from the bidding war . Paramount Skydance CEO David Ellison announced the intention to merge the two services during an investor call on Monday, March 2, 2026 .

The combined service will bring together popular content from both platforms, including the “Star Trek” franchise and Taylor Sheridan’s shows from Paramount+, alongside “Game of Thrones,” the Batman saga, and “Sinners” from HBO Max .

Scale and Competition

With over 200 million potential subscribers, the merged platform will rival Amazon Prime in scale and position itself to better compete with industry leader Netflix, which currently has over 325 million subscribers . Ellison emphasized that the combined offering, along with technological advancements, will enable the company to compete effectively with the most scaled players in the direct-to-consumer streaming market .

Maintaining Brand Identity

Despite the platform merger, Paramount intends to maintain the HBO brand’s independence. Ellison stated that “HBO should stay HBO,” recognizing its long history of quality programming . HBO is likely to function as a sub-brand within the larger streaming service .

Deal Details and Approvals

Paramount’s offer values Warner at roughly $77 billion, with the total deal, including Warner’s debt, exceeding $110 billion . The merger still requires approval from regulators and shareholders.

Looking Ahead

The consolidation of HBO Max and Paramount+ signals a shift in the streaming landscape, moving away from launching new services and towards combining existing ones to gain market share. Details regarding pricing and the exact structure of the combined service remain to be announced.