HBO Max, Paramount+, and Discovery+ "will unify into a single service”

What happened

Paramount Skydance completed its acquisition (one company buying another) of Warner Bros. Discovery (WBD) today, ending a monthslong saga that began when Netflix last year announced its own plans to buy WBD.

In a press release announcing the completion of the deal, Skydance - the name of the combined companies - says both streamers will "unify into a single service over time." A combined service could lead to higher prices.

After months of industry and customer speculation, Paramount Skydance has shed some light on the future of the HBO Max and Paramount+ streaming services. Skydance CEO David Ellison hinted at this possibility in March, saying during a call with investors that merging Paramount Plus and HBO Max would give the combined companies "a little over 200 million direct-to-consumer subscribers."

Key facts

• Discovery (WBD) today, ending a monthslong saga that began when Netflix last year — announced: its own plans to buy WBD