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So WarnerDiscovery now wants to merge with Paramount Global.

Because apparently what the world needs now is even more media consolidation.

This is more than just a merger between two big Hollywood studios. It's a merger between two conglomerates that themselves were created through the merger of big media conglomerates.

Paramount Global came about through the merger of CBS and Viacom.

Along with Paramount Pictures, it also owns CBS in the US, Channel Ten in Australia, and Channel Five in the UK.

Oh, and also MTV, BET, Nickelodeon, VH1, Showtime, Comedy Central, Miramax Films, United International Pictures, Pop TV, and CMT, among many other assets.

WarnerDiscovery was formed from the merger of Discovery Inc with WarnerMedia, which itself was formed by merging Time Inc with Warner Communications, and then Turner Broadcasting.

Along with Warner Brothers, it owns CNN, DC Comics, The Oprah Winfrey Network, HBO, Cartoon Network, TBS, TNT, Discovery Channel, Animal Planet, New Line Cinema, Castle Rock Entertainment, and a lot more.

And all that will be owned by one mega-corp if this deal goes through.

Now whose interest would such a deal serve?

Consumers? Creatives? Employees?

Or just Wall Street...

https://amp.smh.com.au/business/companies/warner-bros-and-paramount-plot-56-billion-hollywood-megamerger-20231221-p5et17.html

#media #business #finance #WarnerMedia #WarnerDiscovery #capitalism #politics