New Report Suggests NBCUniversal And Warner Bros. Discovery Could Merge

Warner Bros. Discovery, which came into being last April through a merger between WarnerMedia and Discovery Inc., might be facing another merger in the near future through a union with Comcast Corp.'s NBCUniversal.

The Hollywood Reporter cited unnamed entertainment industry executives in speculating Comcast CEO Brian Roberts will seek a merger with Warner Bros. Discovery. The same sources claimed that David Zaslav, president and CEO of Warner Bros. Discovery, is also eager to merge with another media company.

"Obviously Peacock sucks," said one anonymous executive, referring to the NBCUniversal service that offers WWE content to streaming audiences. "There are some good synergies. I'm sure [Roberts] is licking his chops because the [WBD] stock is so low. And I think that's Zaslav's endgame. Get the place sold."

Another unnamed entertainment executive added this combination seemed likely, noting that "people feel like it's Comcast for sure" for such a transaction to occur.

The Hollywood Reporter noted that Zaslav met with Roberts and NBCU CEO Jeff Shell during the Allen & Co. business conference in Sun Valley last July, though the context of the meeting was not known; the merger deal that structured Warner Bros. Discovery prevents the company from pursuing another merger until April 2024.

If a Comcast-Warner Bros. Discovery merger did go through, it could have major ramifications for the wrestling industry, as NBC Universal and Warner Bros. Discovery have strong relationships with WWE and AEW, respectively, potentially raising a question as to which wrestling organization would stay in partnership with the combined entity. Earlier this year, WWE co-CEO Nick Khan touted how WWE has expanded their audience and viewership with the Peacock partnership, adding that WWE feels they have outperformed on Peacock when it comes to advertising and subscription. Meanwhile, AEW has likewise touted its strong relationship with WBD.