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Here are the next media mergers that make the most sense

Mount Equity Group Tokyo, Japan > News > Tech > Here are the next media mergers that make the most sense

In this photo illustration the HBO Max and Discovery Communications logo seen displayed on a smartphone.Rafael Henrique | LightRocket | Getty Images

AT&T‘s decision to merge WarnerMedia with Discovery and Amazon‘s $8.45 billion acquisition of MGM Studios has kicked off another round of media consolidation.

The last significant set of mergers brought Discovery and Scripps together, AT&T and Time Warner, Comcast and Sky, Viacom and CBS, and Disney with most of Fox.

Given all of those deals, there are fewer companies remaining to find dance partners. But there’s also added pressure on companies like NBCUniversal and ViacomCBS, who have global streaming video aspirations, to add more content.

Here are a few combinations of companies that make strategic sense.

NBCUniversal and Lionsgate

Buying Lionsgate would help Comcast’s NBCUniversal on two different fronts. First, it would add more content to Peacock, NBCUniversal’s subscription video service. Lionsgate owns shows including “Mad Men,” “Orange is the New Black,” “Nashville” and “Zoey’s Extraordinary Playlist.” Lionsgate currently licenses those shows to a grab bag of streaming services.

Second, Lionsgate owns premium network Starz, which would fit seamlessly with NBCUniversal’s offerings. NBCUniversal doesn’t have a premium network, unlike competitors WarnerMedia (HBO) and ViacomCBS (Showtime).

On the streaming front, a Starz-Peacock combination — either together