Report: Paramount-Warner Bros. Merger Would Boost Competition and Jobs

A new bipartisan report suggests that the proposed merger between Paramount Global and Warner Bros. Discovery would enhance competition within the American entertainment industry and offer greater benefits to consumers.

The report, authored by Stephen Moore and Robert Wolf, contends that the combination would position the entity to more effectively compete against major technology platforms such as Netflix and Amazon. It highlights that both Paramount and Warner Bros. Discovery are currently smaller than these dominant streaming services individually, and their merger aims to create a better-capitalized company capable of increased investment in content, streaming technology, and theatrical releases.

"The entertainment industry is undergoing one of the most dramatic transformations of any sector in the American economy," stated Stephen Moore. "Paramount and Warner Bros. are competing every day against Netflix, Amazon, Apple, Disney, YouTube, TikTok, and other enormously well-capitalized global platforms. Bringing these companies together would create a stronger American competitor capable of investing in more content, more innovation, and more jobs."

The analysis indicates that while Paramount and Warner Bros. Discovery hold significant shares of U.S. television viewing time, their combined size would still be smaller than the largest streaming platforms. The merger is also expected to bolster film production, with both studios intending to operate independently and release a minimum of 15 theatrical films annually each, thereby securing a more stable production pipeline and supporting jobs across the industry.