A proposed merger between CBS Sports and TNT Sports is expected to take shape in the third quarter of 2026, a move that could significantly reshape the sports media landscape if regulatory and shareholder approvals are secured.
The combination would follow the acquisition of Warner Bros. Discovery by Paramount under the Paramount Skydance deal, in which Paramount agreed to purchase all outstanding WBD shares for $31.00 each. The transaction has already received unanimous board approval from both companies and is awaiting final regulatory clearance and shareholder approval, with a vote expected in spring 2026.
If completed, the deal would bring together two of the most powerful sports portfolios in media under a single corporate structure. The combined assets would include rights tied to the National Football League, NCAA March Madness, MLB postseason, NHL playoffs, College Football Playoff, the Masters, NASCAR, the French Open, and the Ultimate Fighting Championship.
“There’s no discussion about the future or what happens,” Silberwasser said, noting that TNT Sports retains full autonomy to pursue deals and operate separately from Paramount until the transaction is complete.
Industry expectations are that integration planning could move quickly once approvals are granted, particularly given recent precedent of faster-than-expected clearances for major sports media deals. David Berson is widely viewed as the leading candidate to oversee the combined sports division.
One of the immediate questions surrounding the merger is how rights distribution might evolve. For example, whether CBS could eventually air properties currently tied to TNT Sports remains unclear, as existing carriage and licensing agreements may limit short-term flexibility.
Bottom line: While still pending approval, the planned merger between CBS Sports and TNT Sports is on track for late 2026 and could rapidly consolidate premium sports rights under Paramount’s umbrella — with major implications for how and where live sports are distributed.