“Dominance.” This seems to be the master plan for entertainment giant Paramount Skydance (PSKY) after completing its merger with Warner Bros. Discovery (WBD), assuming it manages to get through the regulatory firestorm ahead. New reports suggest that Paramount not only has plans to dominate streaming, but also to dominate linear cable as well. These ambitious plans cut little ice with investors, though, who sent Paramount shares down over 2% in the closing minutes of Monday’s trading.
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One report suggests that, should this deal go through and Paramount+ and HBO Max get together, the combined entity would be a dominant force in unscripted television. This includes reality shows ranging from Survivor to The Daily Show. The reports note that, had the merger already happened back in the first quarter of 2026, the combined entity would have had a 25.1% share of demand when it comes to unscripted content.
The next highest competitor, Hulu / Disney (DIS), would have only had a 22.3% share, showing the very real potential for Paramount Max, or whatever it is ultimately called, to pull out a win in the field. And with the combination of TLC fodder, Discovery / Investigation Discovery material, and popular oddballs like Impractical Jokers on TBS, the end result is a surprising powerhouse for unscripted material.
Dominating the Empty Field
Moreover, Paramount is also prepared to represent a small cable syndicate in its own right. The combination of Paramount and Warner would effectively bring together just over 50 different cable channels under one umbrella.
Paramount has a massive stable as it is, starting with the Nickelodeon lineup, and proceeding to the MTV horde, the BET Media Group, and a slate of premium channels. Warner, meanwhile, has Discovery and all its offshoots, as well as channels from Animal Planet to Cartoon Network. Paramount’s leverage over any cable provider would be massive, as shutting down a carriage deal with Paramount would functionally eviscerate most any cable provider’s services. This may not be the problem some think, though, as the rise of streaming has ensured plenty of alternatives.
Is Paramount Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Sell consensus rating on PSKY stock based on one Buy, five Holds and four Sells assigned in the past three months, as indicated by the graphic below. After a 7.2% loss in its share price over the past year, the average PSKY price target of $11.38 per share implies 5.03% upside potential.
