What if WarnerMedia acquired Metro-Goldwyn-Mayer?

As we all know, after Time Warner merged with Turner Broadcasting System in 1996, the company inherited most of the pre-1986 Metro-Goldwyn-Mayer library, including titles like The Wizard of Oz, Ben-Hur, Gone with the Wind, Singin' in the Rain, 2001: A Space Odyssey, Doctor Zhivago and Tom and Jerry, but excluding other titles like The Pink Panther, the James Bond and Rocky series, with those being kept by sister studio United Artists, with others like RoboCop, Hannibal and The Addams Family joining MGM's catalog after acquiring Orion Pictures, later creating new franchises such as Stargate and Legally Blonde. But considering some recent co-productions between the current MGM and Warner Bros., what if WarnerMedia takes the next step and acquires the company? Here's a potential scenario.

General

 * The acquisition would take place on February 17th, 2016, when the company was still known as Time Warner.
 * To promote the merger, Time Warner created a promotional poster with Bugs Bunny and the Pink Panther shaking hands with "Aren't they some stinkers?" as a subtitle.
 * The post-1986 MGM, post-1952 United Artists and post-1982 Orion Pictures catalogues would now be owned by WarnerMedia.
 * However, its pre-1986 catalog would still be owned by Warner Bros. through Turner Entertainment while Tom and Jerry, Droopy and other pre-1986 MGM cartoons would be owned by Warner Bros. Animation through Hanna-Barbera.
 * MGM would be integrated as a division of Warner Bros. Entertainment, with United Artists and Orion Pictures serving as its sub-labels.
 * United Artists Releasing would likely not exist as future MGM releases would be distributed by Warner Bros. instead, although the brand would be kept for iconic franchises produced under that label such as the James Bond and Rocky film series.
 * MGM Home Entertainment would still exist, although now as a sub-label of Warner Bros. Home Entertainment.
 * A new logo would be developed, consisting of the Warner Bros. logo zooming out until it's revealed it's being reflected on Leo the Lion's eye and turning into the 2012 MGM logo as the Time Warner/WarnerMedia byline fades in at the end.
 * A Warner Bros. Animation/Metro-Goldwyn-Mayer Animation variant exists as well with Leo the Lion being animated on it.
 * The logo was updated in 2020 in order to feature the new Warner Bros. shield introduced in 2019 and again in 2021 to feature an updated photorealistic version of the 1998 logo alongside a CGI-recreated Leo the Lion and a new logo animation as well as a majestic fanfare to accompany the MGM logo.
 * Developing rights for future games based on MGM properties would now be owned by Warner Bros. Interactive Entertainment.
 * Epix would eventually be closed down on TBD 2017 with its original programming and first-run rights for MGM movies moving to HBO/Cinemax, while the ones for Paramount and Lionsgate movies would move to Showtime/The Movie Channel/Flix and Starz/Starz Encore/MoviePlex, respectively.
 * Most of its content would be available on HBO Max.
 * This would allow DC Comics (also owned by WarnerMedia) to publish titles based on MGM franchises such as The Pink Panther, James Bond, Rocky, RoboCop, Stargate, Hannibal, The Addams Family and Spaceballs.
 * Several iconic MGM movies are brought back as new takes on such media.

Acquisition by Amazon and merger with Discovery, Inc.

 * In 2020, as a result of the losses accumulated during its ownership by AT&T, the company was spun-off from its parent company and entered into talks with Discovery, Inc. for a merger while Amazon entered into negotiations to acquire the combined company, being finalized in early April 2022, resulting in the company being renamed Amazon Entertainment.
 * The combined company would consist of five major divisions: Warner Bros. Entertainment, DC Comics, Turner Broadcasting System, HBO and Prime Video.
 * During an initial period, HBO Max and Discovery+ would still operate separately, with both being discontinued and merged into Prime Video on April 17th, 2023.
 * Warner Bros. wouldn't cancel upcoming projects or remove existing ones from its library for tax write-offs in part due to owner Jeff Bezos promising that its existing debts would be cleared following a major restructuring.
 * In part due to Discovery Family being weakened due to partner Hasbro moving its first-run deals to Netflix and Paramount Global, the channel would eventually be relaunched as the Cartoonito channel on February 16th, 2023 with its existing non-Hasbro non-preschool content moving to Boomerang and Prime Video.
 * To promote synergies with Prime Video, AT&T SportsNet would eventually be renamed Prime SportsNet on TBD 2023 with existing sports events that their broadcasting rights are currently owned by the platform starting to air on TNT and TBS as well.
 * There would be a push towards a bigger emphasis on factual content for the Discovery channels and Prime Video as an attempt to better compete with Disney's ownership of National Geographic.
 * While MultiVersus would remain mostly the same, the game would also include MGM characters, with the Pink Panther and James Bond being launch characters and Wednesday Addams, TBD being later additions.

Film

 * Warner Bros. Pictures
 * Warner Animation Group
 * Metro-Goldwyn-Mayer
 * United Artists
 * Orion Pictures
 * American International Pictures
 * New Line Cinema
 * Castle Rock Entertainment
 * Turner Entertainment Co.

Television

 * Warner Bros. Television
 * Warner Horizon Television
 * Warner Bros. International Television Production
 * All3Media
 * Metro-Goldwyn-Mayer Television
 * Warner Bros. Animation
 * Hanna-Barbera
 * Cartoon Network Studios
 * Williams Street
 * Rooster Teeth
 * LazyTown Entertainment
 * The CW (joint-venture with Paramount Global and Nexstar Media Group)
 * Amazon Studios

Home video and digital

 * Warner Bros. Home Entertainment
 * Blue Ribbon Content
 * Warner Bros. Interactive Entertainment
 * Fandango Media (joint-venture with NBCUniversal)
 * WaterTower Music

News and sports

 * CNN
 * HLN
 * NBA TV
 * MLB Network
 * Prime SportsNet
 * Motor Trend
 * Eurosport

General entertainment

 * TNT
 * TBS
 * TCM
 * Oprah Winfrey Network
 * Adult Swim
 * Toonami

Factual

 * Discovery Channel
 * Animal Planet
 * Science Channel
 * Investigation Discovery
 * Destination America
 * American Heroes Channel

Lifestyle

 * TLC
 * TruTV
 * HGTV
 * Magnolia Network
 * Food Network
 * Cooking Channel
 * Travel Channel
 * Discovery Life

Kids and family

 * Cartoon Network
 * Boomerang
 * Cartoonito

Miscellaneous

 * Prime Video

Comics

 * TBD

Trivia

 * We believe that a possible acquisition would be good not just for Warner Bros., but also for MGM themselves as it would allow them to reunite with their pre-1986 catalog as well as revitalizing their historic brand under Warner Bros.' ownership and it's a less risky/near-monopolistic acquisition like it was the one of 20th Century Fox/Studios by Disney as it would involve the acquisition of a medium-sized studio by a larger one rather than the one of a large studio by an equally large one.