A $40 Billion Merger Behemoth Between Suicide Squad: Kill the Justice League Publisher’s Parent Company Warner Bros. and Paramount Might Happen

Amidst rumors suggesting Microsoft possibly having a deal with Paramount, the latter seems to have made a move now – but with a different party. If the latest reports are anything to go by, Warner Bros. Discovery, the multi mass media and entertainment company owning the publisher of the upcoming Suicide Squad: Kill the Justice League, is interested in merging with Paramount Global.

Well, that’s quite a surprise for anyone who’s been keeping up with the situation involving Warner Bros. and their debt situation. However, if one has to consider the future of this possible merger, the deal might eventually work out. Both the companies have got a lot to offer each other. They may thrive together despite facing a financial catastrophe at the moment. More than anything, the segment of video games under WB may play a crucial role in the long run.

How can the billion-dollar merger work for Warner Bros. Games division?

For the uninitiated, the current market value of Warner Bros. Discovery as of December 20, 2023, stands at around $29 billion. It’s more than the value Paramount Global has, being just above $10 million. One can say the merger, if it happens, won’t be between equal in terms of considering the overall valuation.

Imagining a possibility of the merger between Warner Bros. and Paramount, it will be worth almost $40 billion ($38 billion to be precise). The deal will surely bring together two of Hollywood’s biggest studios under the ‘big five’ group. Disney, Columbia Pictures, and Universal are the other three rounding up the elite list.

According to strong reports, WB Discovery CEO David Zaslav recently met with Paramount CEO Bob Bakish for a lunch on Tuesday, December 19, in New York. As confirmed by outlets like Axios, the meeting was arranged to discuss a possible merger.

Speaking of popular entertainment properties attached to both companies, Paramount is known for giving blockbusters like Terminator, Transformers, Mission: Impossible, Top Gun, A Quiet Place, Teenage Mutant Ninja Turtles, The Godfather, Scream and Star Trek franchises. On the other hand, Warner Bros. has its DC Universe of films and TV shows, the Harry Potter IP, and Lord of the Rings movie series.

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But there’s one more thing Warner Bros. Discovery owns – Warner Bros. Games. Since it was founded in 2004, the publishing company has delivered fan-favorite and iconic video game franchises. To name a few, there’s the Batman Arkhamverse and Injustice series based on DC Comics, Mortal Kombat, and most recently Hogwarts Legacy (based on Harry Potter universe). Further, Suicide Squad: Kill the Justice League (from DC Comics) is set to release globally on February 2, 2024.

WB Games has mostly remained profitable for Warner Bros. Discovery since the last 15 years. It has delivered an impressive operating income of $400 million in the last three years. Plus, the scope of live-service titles is expected to target more revenue in the long run.

In the words of CEO David Zaslav from an investors earnings call last month, “games are a critical and very valuable asset for the company, with a great deal of potential for growth. Games have consistently enjoyed among the highest ROIs of any of our businesses.”

Taking into consideration an unmatched interest for gaming these days, both WB and Paramount can work together after their merger to grow the video games division even further. WB already has a huge advantage with its properties like games based on DC and Hogwarts Legacy.

The possibilities are endless and vast when it comes to adapting characters like Superman, Batman, Joker, Harley Quinn and more into a new series of multiple video game projects; and maybe live-action movies. Doing so on a larger scale will surely generate a lot of buzz among hardcore comic book fans.

As of Q3 2023, both Warner Bros. Discovery and Paramount Global have a got a lot of debt to clear. While the amount for Paramount is close to $16 billion, WB Discovery has a debt load of $43.5 billion. It makes sense why the two should merge. ‘Sharing’ resources might help them to recover faster. But that’s just a speculation for now unless there comes an official announcement.

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