Warner Bros. Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish on Tuesday in New York City to discuss a possible merger, Axios has learned from multiple sources.

Why it matters: The combination would create a news and entertainment behemoth that would likely trigger further industry consolidation.

Zaslav also has spoken to Shari Redstone, who owns Paramount’s parent company, about a deal.

[Once again, we are seeing consolidation that will put greater economic power in fewer hands — and in the media sector, no less, where that already causes massive problems for speech and debate. That equates to political power, as Disney has spent the last few years demonstrating. Will conservatives still insist on a laissez-faire approach to mergers and acquisitions, or have we learned our lesson yet? — Ed]