The Paramount Warner Bros. Merger: A Debt Fueled Disaster Waiting to Happen The proposed merger between Paramount and Warner Bros.
Discovery has been touted as a necessary response to the modern streaming era, but beneath the surface lies a ticking time bomb of debt that threatens to devastate both studios. The math doesn't work.
The combined company would begin life carrying an astonishing $79 billion in debt, while generating only $3 billion in annual free cash flow.