US EditionWarner Bros. Discovery signs merger agreement with Paramount Skydance
The $110 billion deal combines Paramount's and Warner Bros. Discovery's streaming and content assets, funded by equity and debt, after Netflix declined to match the $31-per-share offer.
- 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.
319 Articles
319 Articles
3 things we will never know after Netflix pulled out of the Warner Bros. bidding, handing it to Paramount
When the credits finally rolled on the Warner Bros. Discovery bidding war this week, it wasn’t the world’s largest streamer standing on the lot. It was Paramount Skydance, another legacy Hollywood studio with a subscale streaming business struggling under a massive debt load. Netflix formally withdrew its bid on Thursday after Warner’s board deemed Paramount’s latest offer “superior,” ending months of brinksmanship that played out as a throwback…
Fate of DC Universe and 'Harry Potter' Reboot Revealed After Paramount Merger
We may already know how James Gunn’s DC Universe and the upcoming Harry Potter reboot will be impacted by the upcoming Paramount merger. Warner Bros. Discovery has been up for sale for some time now, with the past few months seeing Netflix assumed as its buyer. Last December, Warner Bros agreed to an $82 billion, debt-inclusive takeover offer from Netflix for select assets. Credit: DC Studios The news divided film fans, concerned over what impac…
Rutland Herald
From box office bomb to media powerhouse: Skydance’s 20-year rise to overtake Paramount, Warner Bros
It's a come-from-behind story fit for Hollywood itself. Skydance's unlikely triumph in the battle for Warner Bros. Discovery, sealed with Netflix's step back, is a win two decades in the making. When Skydance founder David Ellison created the company at…
Warner Bros. Discovery reached an agreement this Friday to be acquired by Paramount Skydance in a large-scale operation valued at $110 billion, ending and ending an intense bidding battle that took a decisive turn after Netflix decided this Thursday not to continue its competing proposal by HBO's owner Max. The companies announced on Friday that the agreement assigns an asset valuation of $81 billion to the transaction and foresees its closure i…
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