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Q2 2026's Biggest Media Deals: Paramount-WBD Merger, Fox-Roku Acquisition, and Comcast's NBCUniversal Spinoff

7/7/2026

Three transactions defined the U.S. media industry's second quarter of 2026. Paramount's merger with Warner Bros.

Discovery continued to advance, Fox moved to acquire Roku, and Comcast set a spinoff of NBCUniversal in motion — a cluster of structural shifts that put legacy distribution, streaming infrastructure, and cable broadcasting all in play at once.

Discovery Press Forward The merger between Paramount and Warner Bros. Discovery remained on track through Q2.

The combination would bring together two of the most recognizable content libraries in American television and film under a single corporate umbrella.