We recently reported on the imminent merger between Paramount and Warner Bros. Discovery — you can read that full story here.
Paramount has today outlined their plans for the future of their entertainment ecosystem, with mergers such as the combination of HBO and Paramount+. Their aim for this powerhouse integration is to rival streaming platforms such as Netflix and Prime Video.
The full list of the entertainment powerhouse's plans is outlined below:
- HBO Max and Paramount+ will be combined into one service
- 15 films per studio with 45-day theatrical windows for each film
- Merged company will have approximately $79 billion in debt
- $6 billion in cost cutting, including consolidating tech infrastructure, real estate, corporate overheads, and more
- No plans to sell off or spin off any of their cable assets — flexibility to put sports like UFC on any cable network
- Will continue to licence films and TV shows to other studios and platforms
- AI will be a 'tool for artists' but 'never a replacement' for storytellers
As this deal unfolds, Calvary Scribblings will be bringing you the latest on its development.