Warner Bros. Discovery halts merger talks with Paramount Global

President and CEO of Warner Bros. Discovery's David Zaslav speaks during the New York Times' annual DealBook Summit on November 29, 2023 in New York City.

Michael M. Santiago | Getty Images

Warner Bros. has backed out. Discovery has announced a potential takeover of Paramount Global, halting talks after several months of kicking the tires on merging the media companies, according to people familiar with the matter.

Skydance Media, the film and TV studio run by David Ellison, is still conducting due diligence on a potential deal, two of the people said.

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