Though not a done deal — there are still quite a few regulatory hurdles to clear, locally, federally and abroad — Paramount Skydance Warner Bros. Discovery (unofficial, but yikes) now has a fairly open path to try its unified hand at Hollywood domination.

Paramount Skydance, in the midst of pursuing a acquisition of Warner Bros, Discovery, saw downturns in revenue from TV advertising and distribution in the fourth quarter, which helped to spur a wider loss for the period, even as revenue increased in its streaming and film operations.

Should a Paramount-WBD merger ultimately be greenlit, two declining businesses will be challenged to form a profitable one. Even with regulatory approval, Paramount-Skydance-Warner-Bros.-Discovery faces an uphill climb.

By Harshita Mary Varghese Feb 25 (Reuters) - Paramount Skydance forecast first-quarter revenue below Wall Street estimates on Wednesday, citing an ongoing decline in legacy TV, but predicted strong growth in its streaming unit this year on additional subscribers and price increases.

Paramount posted a 2% uptick in total revenue in the fourth quarter, but losses widened during the first full quarter since the Skydance merger.

The media company is pursuing a high-stakes bid for rival Warner Bros. Discovery.

On Sept. 30, the budget live TV streamer Philo increased the price of its Core plan and added access to ad-supported HBO Max and Discovery Plus. Its subscription price rose by $5 to $33, with existing Core customers paying more on or after Oct. 30.

Paramount leaders talked film profitability and the prospect of new NFL TV rights deal but they avoided all questions about Warner Bros. Discovery.