HBO Max and Paramount+ Merger: What It Means for Streaming and John Oliver
The proposed merger of Warner Bros. Discovery and Paramount has sent ripples through the streaming landscape, with the most significant impact likely being the combination of HBO Max and Paramount+. Whereas the deal is still pending, Paramount CEO David Ellison has confirmed plans to integrate the two streaming platforms into a single service.
The Streaming Landscape Shifts
The merger would create a streaming giant boasting over 200 million direct-to-consumer subscribers across more than 100 countries and territories. Currently, Paramount+ has approximately 78.9 million subscribers, while Warner Bros. Discovery (WBD) reports 131.6 million subscribers as of the end of 2025. However, subscriber overlap is expected, potentially reducing the total number once the services are combined. For comparison, Netflix currently exceeds 325 million subscribers. CNN
The combined service will unite iconic franchises from both companies, including HBO’s “Game of Thrones” and “The Sopranos,” alongside Paramount’s “Yellowstone” and “Star Trek” series. The name of the new streamer remains undecided, but it will likely require another rebrand for WBD’s service, which recently reverted to HBO Max after a period as simply Max. CNN
Concerns for HBO’s Independence
With Ellison potentially at the helm of the combined company, concerns have arisen regarding the future independence of HBO. Some fear he may replace current HBO leadership, including Casey Bloys, with executives more aligned with Paramount’s vision. Ellison has publicly stated his intention to allow HBO to operate independently, but skepticism remains. CNN
John Oliver’s Reaction and Potential Risks
John Oliver, host of HBO’s “Last Week Tonight,” has openly expressed his anxieties about the merger. During a recent broadcast, Oliver jokingly referred to Paramount as his new “business daddy” and quipped, “Oh s***! I’m in Paramount now! How the f*** do I secure out of this???” He further questioned whether Paramount would cancel his show for his critical commentary.
Oliver’s concerns are rooted in the experience of Stephen Colbert, whose show “The Late Show” was canceled by CBS after Colbert criticized a settlement reached by the network with Donald Trump. While CBS cited financial reasons for the cancellation, the timing raised suspicions of retaliation. CNN
Whether Oliver will face similar repercussions remains to be seen. The situation evokes comparisons to General Electric’s acquisition of NBC in 1986, when David Letterman was allowed to continue making pointed jokes despite the new ownership.
What’s Next?
The merger of Warner Bros. Discovery and Paramount is still subject to approval. If finalized, the integration of HBO Max and Paramount+ will reshape the streaming landscape, creating a powerful competitor to Netflix and other major players. The future of HBO’s independence, and the fate of programs like “Last Week Tonight with John Oliver,” will depend on the decisions made by Ellison and the new leadership team. “Last Week Tonight with John Oliver” currently airs new episodes on Sundays on HBO. HBO