The Queue
What the deal may mean for the average viewer at home and how Hollywood’s reacting.
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Much like BFFs turned media moguls Ben Affleck and Matt Damon, Paramount and Warner Bros. are about to go into business together.
In case you missed it, Netflix announced late on Thursday that it is walking away from its offer to acquire Warner Bros., clearing the way for Paramount to purchase the entertainment company at $31 a share.
The monthslong tug of war between Paramount and Netflix captivated the entertainment industry, with artisans openly speculating about which prospective owner would fare worse as a steward of the legendary Warner Bros. film studio, which began operating in 1923.
Because this is an audience-focused streaming newsletter, I’ll focus less on what Hollywood thinks and more on what the Paramount-Warner Bros. deal may mean for the average viewer at home.
3 things consumers should expect from Paramount-Warner Bros.
Fewer movies and TV shows
Because Paramount’s merger with Skydance took place less than a year ago, we know that CEO David Ellison’s playbook includes significant layoffs. In October 2025, the company began laying off 2,000 employees, and Ellison has said he sees $6 billion in potential savings at WBD. The two companies each have their own film and television production studios, as well as a lot of cable channels with significant overlap, such as Nickelodeon (Paramount) vs. Cartoon Network (WB) and Showtime (Paramount) vs. HBO (WB). Expect a lot of pink slips, and by extension, fewer viewing options.
A new bundle
As the streaming companies continue to consolidate, more of them have begun to offer cost-saving bundles for consumers. A Paramount+ and HBO Max bundle seems like a foregone conclusion. Could that mean the end of the cost-conscious Disney-Hulu-HBO Max bundle? Hopefully not.
A different CNN
According to the New York Times, President Trump told people in his orbit that Larry Ellison assured him CBS News would become more conservative after the Paramount-Skydance acquisition was completed. While no one knows the specifics of what will happen to CNN, it seems highly likely the cable channel will feature more conservative coverage and perspectives, if the recent revamp of CBS News and “60 Minutes” is any indication.
3 remaining questions about the Paramount-Warner Bros. merger
Which cable channels will survive?
Cable television has been a declining industry for decades now. But if you still have cable, it’s likely that the majority of your channels are owned by either Comcast, Disney, or the combined Paramount/WB. Among its combined holdings, Paramount/WB The last of which counts channels like CNN, Cartoon Network, Comedy Central, BET, MTV, VH1, HGTV, TBS, TNT, TCM, Food Network, Discovery Channel, and more as part of its combined holdings. Paramount has already cut budgets and jobs at its cable channels in recent years. Could they go further and eliminate some of the channels entirely?
What happens to John Oliver?
When CBS decided to settle a lawsuit with President Trump ahead of the Paramount-Skydance merger in July 2025, late-night host Stephen Colbert called it a “big fat bribe.” Weeks later, CBS announced his show would be ending after its upcoming season. Now that the Ellisons will own HBO, they also hold the fate of “Last Week Tonight With John Oliver” in their hands. Oliver has never pulled punches with his parent company in the past. Will that rub his new corporate overlords the wrong way?
Will both Paramount+ and HBO Max still exist in 3 years?
Paramount should certainly begin bundling its two streaming services immediately. But the company could also potentially fold one service into the other, the same way Disney is slowly phasing out Hulu. Better yet, maybe Ellison will just change HBO Max’s name for the umpteenth time. May I suggest something catchy like Paramount+HBOGoMaxNow?
Play or Skip:
Have a show you can’t stop watching? Email me about it at [email protected], and your recommendation may appear in a future edition of The Queue.
Press play on these movies and shows:
- “‘Paul McCartney: Man on the Run’” (2026): Another Beatles documentary? I’m not complaining. This one, from Oscar-winning director Morgan Neville, focuses on Sir Paul’s split from The Beatles, the formation of Wings, and his late wife, Linda, among other topics. (Prime Video)
- “Paradise” Season 2: If you haven’t watched the first season of “Paradise” yet, stop reading this. For those who know about the twist from the show’s very first episode, Sterling K. Brown’s rogue Secret Service Agent has now left the safety of the post-apocalyptic bunker in search of his missing wife. By the way, has anyone else noticed that post-COVID, seemingly every showrunner was inspired to write a bunker show? Coincidence, I’m sure. (Hulu)
- “Arrested Development” (2003-6, 2013-19): Oh, come on! Despite acquiring the streaming rights to “Arrested Development” more than a decade ago – and creating two additional seasons of the show in the 2010s – Netflix is losing the rights to this beloved FOX sitcom on March 15. For those who don’t already own the show on physical media, it’s worth spending the next two weeks rewatching the first three seasons before saying goodbye to them. (Netflix)
But go ahead and skip this one:
- “Song Sung Blue” (2025): Don’t be fooled by the undeserved Oscar nomination for Kate Hudson: This biopic about a couple who forms a Neil Diamond cover band is so bad. (So bad! So bad! So bad!) (Peacock)
End Credits
That’s a wrap on this edition of The Queue. If you’re a fan, please consider recommending this newsletter to your friends.
Until next time, good stream hunting, everyone!
— Kevin
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