Now that Paramount Skydance has beaten out Netflix from its acquisition of Warner Bros. Discovery, the move prompted HBO and HBO Max users to wonder if this would affect their subscriptions in the long run.

According to a press release from Paramount Skydance, the company “entered into a definitive merger agreement” on February 27, 2026, with Warner Bros. “under which Paramount will acquire WBD, forming a premier global media and entertainment company focused on expanding consumer choice and empowering creative talent worldwide.”

Paramount Skydance CEO David Ellison also released a statement, which read, “From the very beginning, our pursuit of Warner Bros. Discovery has been guided by a clear purpose: to honor the legacy of two iconic companies while accelerating our vision of building a next-generation media and entertainment company. By bringing together these world-class studios, our complementary streaming platforms, and the extraordinary talent behind them, we will create even greater value for audiences, partners and shareholders — and we couldn’t be more excited for what’s ahead.”

Find out who owns HBO now and what this means for subscribers.

Who Owns HBO & HBO Max?

Warner Bros. Discovery is the parent company of HBO and HBO Max. Warner Bros. owns Home Box Office. After its merger goes through with Paramount Skydance, the latter will own HBO and HBO Max.

Did Netflix Buy Warner Bros?

Yes, Netflix announced in December 2025 that it is set to acquire Warner Bros. in a $72 billion deal. However, Paramount Skydance duked it out with Netflix following a hostile takeover and eventually acquired Warner Bros. in early 2026.

Will My HBO Subscription Go Up Now?

It’s unclear how Paramount Skydance plans to handle subscription prices since its Warner Bros. acquisition is still underway. The company plans to combine Paramount+, Pluto and HBO.