If Streaming Platforms Merge, Will Prices Go Up?

Case Study

Recent news stories say that big streaming companies that are competing with each other are trying to buy Warner Bros. Discovery (WBD). Several sources say that Netflix has made an offer to buy WBD's streaming and studio businesses. Paramount and Skydance have also made a different offer at the same time. These deals are still just offers and haven't been finalized yet, but the talks that are going on right now bring up an important question about competition policy: how much could subscription prices go up if two big streaming services merged?