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Paramount is hunting for a streaming partner, could kick off a wave of deals

Warner Bros. Discovery has interest in merging Max and Paramount+, as Paramount looks to strike a deal for its money-losing streaming service.

"What they don't have is our scale of content, and together we will make for a very powerful combination to drive more minutes and greater profits," McCarthy said of a potential tech partner at the town hall, according to a transcript of the event obtained by CNBC. "The sheer volume of hit content that we could offer together would be tremendous across TV, film and sports, and would attract millions of viewers," McCarthy said during the town hall in reference to a potential partnership with an existing subscription streaming service like Max or Peacock. Several media executives said privately they expect Peacock, Paramount+, Max and Disney could ultimately team up their programming within one application to alleviate confusion and compete with Netflix, which dominates the subscription streaming industry with about 270 million global subscribers.

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