Deadline has confirmed thatWarner Bros DiscoveryandParamount Globalhave held talks on a possible merger.
Two additional people with knowledge of the discussions confirmed them to Deadline.
Private equity funds increasingly have looked at local broadcasting as an area of interest.
Wall Street didnt have any immediate reaction to the initial report of the negotiations by Axios.
WBD stock slipped almost 6% during the regular trading day and basically was flat in after-hours trading.
Paramount slid 2% and drifted down further after the session.
Many dealmakers had marked April 8, given the likelihood of WBD wanting to make changes to its portfolio.
It also combined a large swath of cable TV assets against a backdrop of accelerating rates of cord-cutting.
Shares in the merged company have been trading well below the price as of the deal close.
WBD and Paramount Global both declined to comment.
A rep for National Amusements did not respond to a request for comment.
Axios had the first report on the talks.
