US EditionPublished • loading... • Updated
Warner Bros signs $110 billion deal with Paramount, its executive discloses in townhall
The $110 billion acquisition includes $29 billion debt and aims to combine major studios and streaming services, creating one of the world's largest film studios.
- On Friday, Warner Bros Discovery agreed to be acquired by Paramount Skydance in a $110 billion deal signed this morning after Netflix declined to match Paramount's $31-per-share offer, Warner Bros chief revenue and strategy officer Bruce Campbell said.
- Paramount pursued Warner Bros since late last year with a hostile campaign led by David Ellison, son of Larry Ellison, and pressured by activist investor Ancora Holdings.
- The deal includes about $29 billion in debt, and Paramount agreed to pay the $2.8 billion termination fee Warner Bros owes Netflix, while raising its regulatory-failure fee to $7 billion.
- Lawmakers warned the acquisition could reduce choices and raise prices, while cinema operators cautioned about job losses and fewer theatrical releases; California AG Bonta said the state is investigating and will be `vigorous` in its review.
- Reuters said EU antitrust approval is expected to be relatively straightforward with minor divestments likely, and the deal positions Paramount to combine HBO Max and Paramount+ to bolster streaming against Netflix.
Insights by Ground AI
31 Articles
31 Articles
Netflix Banks A Quick $2.8 Billion As Paramount Pays WBD Termination Fee; Streamer’s Shares Rise Another 14%
Things in media M&A land continue to move fast with Netflix revealing this afternoon that it is $2.8 billion richer after receiving the funds from Paramount.
·Los Angeles, United States
Read Full Article
Warner Bros. signs $110 billion deal with Paramount | Honolulu Star-Advertiser
Warner Bros. Discovery has agreed to be acquired by Paramount Skydance in a $110 billion deal signed this morning, according to an audio clip of a global townhall by the company, which was reviewed
·Honolulu, United States
Read Full Article
Reuters exclusive: Warner Bros signs US$110 billion deal with Paramount, its executive discloses in townhall
Warner Bros Discovery has agreed to be acquired by Paramount Skydance in a US$110 billion deal signed Friday morning, according to an audio clip of a global townhall by the company, which was reviewed
·Canada
Read Full ArticleCoverage Details
Total News Sources31
Leaning Left6Leaning Right3Center7Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 37%
C 44%
R 19%
Factuality
To view factuality data please Upgrade to Premium
