Paramount is looking for streaming partner, CNBC reports

(Reuters) – Paramount Global is holding talks with other media companies about merging its streaming platform with an existing platform, CNBC reported on Monday, citing people familiar with the matter.

Warner Bros Discovery is interested in merging its streaming service Max with Paramount+ as a joint venture, the report added.

Paramount and Warner Bros. Discovery did not immediately respond to a Reuters request for comment on the report.

Shares of Warner Bros Discovery were down 3% and Paramount Global was down 2%.

(Reporting by Harshita Mary Varghese; Editing by Shinjini Ganguli)