US EditionWarner Bros. Discovery signs merger agreement with Paramount Skydance
The $110 billion acquisition merges two major studios and streaming services, with Paramount expecting $6 billion in synergies to boost competitiveness against Netflix and Disney.
- 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.
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158 Articles
This merger could allow the acquirer to better position himself against Disney and Netflix in the hypercompetitive streaming sector, while the traditional business model of studios and television is weakening.
The Hollywood company Warner Bros. Discovery has agreed to the billion-dollar takeover by Paramount Skydance. Both companies announced that the agreement had been signed. The competitor Netflix had recently quit the bidding dispute.
After Netflix's exit from the billion-dollar poker around Warner Bros. Discovery, the way was clear for Paramount. Its boss David Ellison is considered a close Trump confidant. After the conversion at CBS News, CNN is now also targeting. The concern for a political change of course is growing. Netflix withdrew from the billion-dollar poker around Warner Bros. Discovery – and allows a scenario to move closer, which makes many media observers nerv…
Daily Post-Athenian
Paramount acquires Warner Bros. in $110 bn mega-merger
US media conglomerate Paramount Skydance announced Friday it will acquire Warner Bros. Discovery in a deal valuing the combined company at $110 billion, after beating Netflix in a bruising bidding war.
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