Paramount’s WBD merger could reshape streaming and cable. Here’s what it means for HBO Max, Paramount+, and the TV landscape.

That also assumes, of course, that the combined studio colossus will keep making that many shows, and that Warner Bros.

Paramount executives stressed that once merged with Warner Bros. Discovery, the company combined has no plans to unload any legacy cable networks.

Though not a done deal — there are still quite a few regulatory hurdles to clear, locally, federally and abroad — Paramount ...