(Reuters) - Paramount Global ( PARAA ) is holding talks with other media companies about merging its streaming platform with an existing platform, CNBC reported on Monday, citing people familiar with the matter.

Warner Bros Discovery ( WBD ) is interested in merging its streaming service Max with Paramount+ as a joint venture, the report added.

Paramount and Warner Bros. Discovery ( WBD ) did not immediately respond to a Reuters request for comment on the report.

Shares of Warner Bros Discovery ( WBD ) were down 3% and Paramount Global ( PARAA ) was down 2%.

(Reporting by Harshita Mary Varghese; Editing by Shinjini Ganguli)