The Office of the CEO said they could team up with other streamers or technology platforms on a joint venture or long-term partnership. CNBC reported on Monday that Warner Bros. Discovery is interested in a potential merger of Max and Paramount+. In 1987, Shari's father Sumner Redstone acquired Paramount's predecessor Viacom for $3.4 billion. Viacom won a bidding war for Paramount Communications for about $10 billion in 1994 and acquired CBS Corp. for $35 billion in 1999. In 2005, Sumner announced that Viacom and CBS would be split into two separate entities. But that move wasn't to last as Shari — who had taken over National Amusements after Sumner stepped down in 2016 — recombined the companies in 2019 to form ViacomCBS, later renamed Paramount Global. Paramount, which reported a market capitalization of $8.23 billion as of Friday's close, has seen its stock price fall 19% in the past six months, 27% in the past year and 77% in the past five years.