By Vishala Sri-PathmaBusiness reporter
ReutersWarner Bros Discovery and Paramount Global are in early talks to merge, according to multiple media reports.
The deal would see the owner of HBO channels and CNN team up with the studio behind the Mission Impossible films and CBS News.
The deal would bring together two of Hollywood’s “Big Five” studios, with Warner and Paramount’s combined market value standing at $38bn (£30bn).
Talks are believed to be at an early stage and a deal may not happen.
Warner chief David Zaslav and Paramount boss Bob Bakish discussed a possible deal over lunch in New York this week, according to news site Axios.
Streaming of shows and films has meant that traditional media companies have had to invest quickly to compete with the likes of Netflix, Amazon Video and Apple TV.
Warner and Paramount have had to commit to some deep cost-cutting, as they try to minimise losses running into…
