A recent statement by Puck News Founding Partner Matt Belloni highlights a significant disparity in intellectual property (IP) strength between the newly formed Paramount, a Skydance Corporation, and Warner Bros. Discovery (WBD). Belloni asserted that "Paramount does not have the intellectual property that $WBD has," further noting that Skydance CEO David Ellison "sees that as a franchise machine." This commentary emerges as Paramount Skydance is reportedly considering a bid for Warner Bros. Discovery.
The comparison underscores the strategic importance of robust franchise IP in the modern media landscape. Warner Bros. Discovery boasts a formidable array of beloved franchises, including DC Comics (Batman, Superman), Harry Potter, Game of Thrones, and a vast library of classic films and television series from Warner Bros. Entertainment. This extensive portfolio is widely recognized for its global appeal and merchandising potential, making it a highly attractive asset.
Paramount, a Skydance Corporation, formed on August 7, 2025, through an $8 billion merger, combines Paramount Global's storied assets with Skydance Media's production capabilities. While Paramount brings iconic franchises like "Mission: Impossible," "Star Trek," "Transformers," "Top Gun," and Nickelodeon's "SpongeBob SquarePants" and "Avatar: The Last Airbender," Skydance also contributes its own ventures, including upcoming Marvel and Star Wars video games. Despite these valuable properties, analysts suggest the combined entity's IP depth and breadth may still trail that of WBD.
The discussion around IP strength is particularly pertinent given reports from September 11, 2025, indicating that Paramount Skydance is exploring an all-cash offer to acquire Warner Bros. Discovery. Such a merger would create a media giant with an unparalleled collection of film studios, television networks, and streaming services, aiming to compete more effectively with industry leaders like Netflix and Disney. David Ellison's strategic vision for "New Paramount" involves leveraging technology and maximizing the value of content franchises.
The potential acquisition of WBD by Paramount Skydance would significantly reshape the entertainment industry, creating a colossal entity with a diverse and powerful IP portfolio. This move would address the very IP gap that Belloni identifies, potentially consolidating a vast "franchise machine" under one roof. The market continues to watch closely as these major media players navigate consolidation and the evolving streaming landscape.