As Paramount and Warner Bros, two huge Hollywood conglomerates, merge, you may be wondering, what does this mean for my favorite shows and films?

The CEO of Paramount on Monday spoke for the first time about the $110 billion megadeal, which will see the smaller company, backed by tens of billions from his father Larry Ellison and tens of billions in debt from a consortium of lenders, swallow the larger one.

There’s lots that Lanterns co-creators Chris Mundy, Damon Lindelof, and Tom King will have to answer for, but I imagine the most interesting thread the Lanterns teaser tugs on when it comes to hardcore DC fandom is: If HBO exists in James Gunn’s DCU, will it be acquired by Paramount Skydance, which seems to also exist in the DCU?

John Oliver spoke out about Paramount's win in the bidding war with Netflix on the March 1 episode of 'Last Week Tonight.' Paramount won the bidding war to acquire the parent company of HBO and CNN on Feb.

The Paramount Skydance-Warner Bros Discovery merger will create a combined entity that would have a net debt of about $79 billion, Paramount said on Monday, ruling out any plan to divest or spinoff the cable assets.

After already buying CBS News, Paramount could soon own CNN. The ramifications of one company owning two news networks have some concerned.

Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) reported a 6% drop in quarterly revenue, weighed down by declines in its traditional television and film businesses, even as its HBO Max streaming service continued to gain subscribers.