Alex Sherman, a CNBC reporter has hailed the upcoming collaboration between Walt Disney Co. (NYSE:DIS) and Warner Bros. Discovery (NASDAQ:WBD) as the "great rebundling."

What Happened: On Wednesday, during CNBC's "Last Call," Sherman commented on the companies' decision to offer a new streaming bundle, which will include Disney+, Hulu, and Max.

"This is the great rebundling. The age is finally upon us," Sherman said.

"This is just the starting gun for more bundles. It's a sort of an opening the door of other media companies to say 'okay, it's now okay to come together and offer these stronger partnerships by offering a discount just like cable."

The bundle, set to launch in the U.S. this summer, will provide both ad-supported and ad-free options. However, the pricing details remain undisclosed. The companies have pledged to reveal more information about the bundle in the coming months.

Why It Matters: This move comes as part of Disney's broader strategy to enhance its streaming services. Earlier in the same week, Disney CEO Bob Iger expressed confidence in securing long-term NBA rights, a move that would further bolster the company's streaming offerings. The company is also shifting its Marvel content strategy.

Meanwhile, other media giants are also making significant moves. Paramount Global and Skydance Media are reportedly advancing towards a merger, which would further consolidate the media landscape.

Price Action: According to Benzinga Pro, on Wednesday, Disney stock closed 0.05% higher at $105.44 while Warner Bros. closed 0.39% higher at $7.800.

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