Warner Bros Discovery’s (WBD) rumored merger with Paramount Global was easily the biggest media story to break while Faultline was taking some annual festive respite. This comes less than two years after WarnerMedia merged with Discovery in one of the largest consolidatory moves of the modern streaming era – yet further consolidation is not the mouthwatering prospect for the media industry that it once was. The idiom of binding two bricks together in hope that they magically float has been used fruitfully in recent years. CBS and Viacom. Disney and Fox. WarnerMedia and Discovery. These media mega-mergers have generated desired efficiencies in many areas, but not to the extent where substantial chunks of debt have been paid off and bountiful…