Overview

• Speaking at the Royal Television Society’s Cambridge Convention, Landgraf described another mega merger as a matter of when, not if.
• He argued many legacy majors cannot reach 200–300 million global subscribers independently, creating pressure to combine for scale.
• He cited Paramount, Universal, and Warner Bros. as the cohort likely to combine at least two companies to form a globally scaled distributor.
• Coverage notes rising industry speculation that Paramount/Skydance could pursue Warner Bros. Discovery, which has not been confirmed.
• He warned consolidation would leave creators with one fewer buyer and greater efficiency demands, while outlining FX’s pivot to globally oriented series like Shōgun and shifting more capital outside the U.S.