Paramount Skydance plans to combine the Paramount+ and HBO Max subscription streaming services into one platform upon closing of Paramount’s $76.9 billion ($110.9 billion enterprise value) merger with Warner Bros. Discovery.
Speaking on a special March 2 investor call, Paramount CEO David Ellison said he planned to allow the HBO brand, currently run by CEO Casey Bloys, to operate independently going forward creating content.
It wasn’t immediately clear how the two streaming services would connect, either with a separate Max tile on the Paramount platform, or something else.
“As we said, we do plan to put the two services together, which today gives us a little over 200 million direct to consumer subscribers,” Ellison said on the call. “We think that really positions us to compete with the leaders in the space.”
Ellison said he thinks that by June, Paramount will consolidate the services, including Discovery+ and Pluto TV, under a unified stack featuring more than 15,000 titles.
“To contextualize, [Paramount+ and HBO Max] is roughly the size of Disney, right? Obviously, competitive with Amazon, competitive with Netflix,” Ellison said. “So, we really do think that, that really positions us to be one of the leading competitors in the DTC space and really accelerates our growth there and achieving scale in DTC.”
SVOD market leader Netflix ended 2025 with more than 315 million global paid subscribers, while Paramount+ lost 100,000 subs in the last 90 days of the year, and Max added 3.5 million subs, ending the year with 131.5 million.
Regarding the HBO brand, Ellison said he would prefer not to disrupt the legacy platform.
“Our viewpoint is HBO should stay HBO,” he said. “They built a phenomenal brand. They are a leader in the space, and we just want them to continue doing more of it.”
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The third and final season of the HBO Original comedy series “The Comeback” will debut March 22 on HBO and will be available to stream on HBO Max. Subsequent installments of the eight-episode season will be available weekly on Sundays leading up to the series finale May 10.
In March 2011, a 9.0-magnitude earthquake — the strongest ever recorded in Japan — unleashed a tsunami that devastated the country’s northeast coast. Entire towns were erased and 20,000 lives were lost, but an even greater threat loomed at the Fukushima Daiichi nuclear power plant, where the giant wave disabled the cooling systems of three reactors. As radiation levels soared and hydrogen explosions tore through the facility, Japan’s leaders faced the unimaginable prospect of evacuating Tokyo — the world’s largest city with 35 million people.
