Warner Bros Discovery (WBD) has halted merger talks with Paramount Global, according to media reports.
CNBC reported that the acquisition talks had been stopped, several months after word of the potential media mega-merger first emerged in December. CNBC cited sources familiar with the matter.
WBD CEO David Zaslav spoke with Paramount Global CEO Bob Bakish and Shari Redstone, who owns Paramount’s parent company, about a potential acquisition.
Read more Warner Bros Discovery posts 4% revenue fall in 2023
The companies engaged in more serious merger discussions in January, but talks have cooled off this month.
Skydance Media, the film and TV studio run by David Ellison, is still performing due diligence on a potential transaction with Paramount Global, according to CNBC.
CNBC also reported that Comcast, the owner of NBCUniversal, is not interested in acquiring Paramount Global assets. It said that Comcast has been working with house bankers to explore a potential commercial partnership with Paramount Global which could include bundling or merging streaming services Peacock and Paramount+, as previously reported by The Wall Street Journal.
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