NBC may not be out after all
https://www.cnbc.com/2021/07/20/com...ider-partnership-to-bolster-streaming-tv.html
While there may be no rush to merge, both companies will ultimately need more scale to compete against larger players. They could partner or merge, or they could attempt to merge with Warner Bros. Discovery when/if that deal closes in the middle of 2022. A merger with Warner Bros. Discovery may be a cleaner fit for both ViacomCBS and NBCUniversal.
Comcast was trying to acquire Warner media before they merged in the spinoff with Discovery. May be a chance for them to obtain that new merged company, which could allow NBC back in the mix as they'd own the rights via the possible merger
Won’t happen, if CBS or NBC become separate entities sold off maybe I could see that merger happening. But not as a massive media conglomerate with the way media is changing to be a streaming war.