HBO Max and Paramount+ Set to Merge Into One Streaming Platform After Warner Bros Acquisition

Paramount Skydance has unveiled plans to combine Paramount+ and HBO Max into a single streaming service after its acquisition of Warner Bros. Discovery — a deal valued at roughly $110 billion. Paramount CEO David Ellison discussed the strategy on an investor call, explaining that the unified platform would bring together more than 200 million direct-to-consumer subscribers, a global footprint that aims to bolster the company’s competitiveness against top players like Netflix and Disney+.

Ellison emphasized that while the two services will merge into one technical and commercial offering, the HBO brand will continue to operate with creative independence to maintain its prestige and distinct identity under network chief Casey Bloys. The move brings iconic HBO titles such as The Sopranos, Sex and The City and Game of Thrones alongside Paramount staples like Yellowstone and Star Trek under one subscription umbrella.

The announcement follows months of industry maneuvering. Paramount’s bid outpaced an earlier offer from Netflix for Warner Bros. Discovery, which backed out, allowing Paramount Skydance to secure the deal. Once the acquisition is finalized and regulatory approvals are secured, the two streaming services are expected to begin the consolidation process later in 2026.

While details on pricing and the final naming of the unified service have yet to be released, the plan also taps into Paramount’s broader content strategy, including sports rights and expanded global distribution potential, as the company looks to create a deeper and more comprehensive streaming destination.