Warner Bros. Discovery in Talks to Merge With Paramount

Warner Bros. Discovery has joined the ranks of companies expressing interest in a possible merger with Paramount, according to two people with knowledge of the discussions.

David Zaslav, the chief executive of Warner Bros. Discovery, had lunch this week with Bob Bakish, Paramount’s chief executive, and expressed interest in a potential merger of the two companies, the two people said.

During the lunch, which was held Tuesday at Paramount’s Midtown Manhattan headquarters, the prospect of a merger came up in a wide-ranging conversation between Mr. Bakish and Mr. Zaslav, the people said.

Warner Bros. Discovery’s stock fell on news of the deal, which was reported earlier by Axios. Paramount’s stock dipped slightly in after-market trading.

This is a developing story. Check back for updates.