The Paramount and Warner Bros. assets that would make a media behemoth

Paramount Skydance is making a play for Warner Bros. Discovery, a merger that would unite some of the entertainment industry’smost valuable assets under one roof.

- Nat Ratner [e-mail]

If a deal comes to fruition, the combined array of streaming services, TV networks and movie studios could position a merged company to better compete with media and tech giants such as Disney, Netflix and Amazon.com.

Paramount approached Warner Bros. Discovery in late September, The Wall Street Journal reported, about a potential majority-cash offer forthe entire company, which owns a vast library of classic movies and television shows, iconic film and TV studiosand multiple streaming services. Warner Bros. Discovery Chief Executive

David THE WALL STREET JOURNAL.

Zaslav has

indicated to

associates that Warner isn’t for sale, the Journal reported.

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