If I create a new Apple ID will I be able to maintain the purchased content from my previous account?

Not if you create a new ID. However, if you change your current one your purchases are not affected (you will still have access to them the same as before). See: Change your Apple ID - Apple Support

No, Apple says:

Your Apple ID is the personal account you use with all Apple products and services. It includes the email address and password you use to sign in, as well as the contact, payment, and security details that you use with Apple.

You can’t merge multiple Apple ID accounts.

See the following Apple articles

Sign in with your Apple ID -> Sign in with your Apple ID - Apple Support

Manage and use your Apple ID -> Manage and use your Apple ID – Apple Support (UK)

-----

If you wish, you can change your Apple ID, see this Apple article: Change your Apple ID

Change your Apple ID - Apple Support (SG)

⤵️

You won’t lose access to your contacts, purchases or other account information.

Then see this Apple article: What to do after you change your Apple ID or password

What to do after you change your Apple ID or password - Apple Support