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# Paramount-WBD streaming merger faces 28% subscriber overlap, Morgan Stanley says
- URL: https://www.medianexis.com/paramount-wbd-streaming-merger-faces-28-subscriber-overlap-morgan-stanley-says/
- Published: 2026-09-27T21:01:38.000Z
- Updated: 2026-10-09T00:06:40.000Z
- Description: MediaPost’s Wayne Friedman reports that Morgan Stanley pegs subscriber overlap between HBO Max and Paramount+ at 28%, complicating plans to merge the platforms as the Paramount-Warner Bros. Discovery deal proceeds.
- Author: The Signals Desk
- Tags: Streaming, Deals, Wayne Friedman, Paramount buys Warner Bros. Discovery and becomes Skydance

*Signal from* [*mediapost.com*](https://mediapost.com/?ref=medianexis.com) *·* [*Wayne Friedman*](https://www.medianexis.com/tag/by-wayne-friedman/) *·* [*read the original*](https://www.mediapost.com/publications/article/418272/hbo-max-paramount-what-will-the-combo-really-b.html?ref=medianexis.com)*.*