A potential merger between two major sports media players is beginning to take clearer shape. According to John Ourand of Puck, CBS Sports and TNT Sports are expected to combine operations in the third quarter of 2026, “if all goes according to plan.”
Despite the reporting, TNT Sports Chair & CEO Luis Silberwasser told Ourand that while the merger is indeed ahead, he remains focused on current operations rather than future integration.
“When we talk about the transaction, it’s important to note that we are operating as two separate companies until the transaction is completed,” noted Silberwasser. “There’s no discussion about the future or what happens. All those things are being decided later. We have the ability to continue to do the deals we’re doing now, and to operate this company as an independent company and a separate company from Paramount.”
This merger stems from Paramount Skydance’s purchase of Warner Bros. Discovery earlier this year. Under the terms of the agreement, Paramount will pay $31.00 per share in cash for all outstanding shares of WBD.
The transaction has been unanimously approved by the Boards of Directors of both companies. The expectation the deal will close, subject to customary closing conditions. This also includes regulatory clearances and approval by WBD shareholders, with a vote expected in the early spring of 2026.
With that acquisition, CBS Sports and TNT Sports will likely combine assets under the new Paramount Skydance ownership. That combined portfolio would include the NFL, March Madness, the MLB postseason, NHL playoffs, College Football Playoff games, the Masters, NASCAR, the French Open, and exclusive rights to the UFC
According to Ourand, CBS Sports President David Berson is widely viewed as the leading candidate to oversee the merged division.
There is growing belief the companies are preparing to move quickly once clearance arrives. Recent precedent has fueled that optimism, as other high-profile sports media deals have gained approval faster than expected.
If the merger closes on the projected timeline, it could quickly reshape how live sports rights are distributed. One immediate question involves whether CBS could air select TNT Sports properties. However, existing carriage and rights agreements may complicate that scenario.
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