Warner Bros. Discovery Shareholders Approve $110 Billion Paramount Deal
Warner Bros. Discovery shareholders approved a $110 billion merger with Paramount, advancing one of the largest media consolidation deals in recent years.
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Warner Bros. Discovery shareholders approved a $110 billion merger with Paramount, advancing one of the largest media consolidation deals in recent years.
Paramount completes a $110 billion acquisition of Warner Bros., creating a major global media powerhouse.
Netflix exited its months-long pursuit of Warner Bros. Discovery after Paramount Skydance submitted a higher $31-per-share offer. Netflix shares jumped more than 10% as investors welcomed the decision and a $2.8 billion breakup fee.
Netflix released new branding tied to Warner Bros., reinforcing expectations around a landmark media acquisition.
Warner Bros. Discovery is expected to reject Paramount’s takeover proposal as early as Wednesday, reinforcing its preference for a standalone strategy.
Paramount has launched a hostile $30-per-share bid for Warner Bros. Discovery, surpassing Netflix’s offer as shareholders – not management – prepare to decide the future of the studio.
Netflix has agreed to buy Warner Bros. Discovery for $27.75 per share in a deal valuing the transaction at $82.7 billion. The acquisition includes the Warner Bros. film studio and HBO Max, while WBD’s TV networks will be spun off separately.
Netflix is now the leading bidder for Warner Bros. Discovery, intensifying a high-stakes takeover battle with Paramount Skydance and Comcast.
Netflix has reportedly made a largely cash offer to acquire Warner Bros. Discovery in a deal valued at roughly $59 billion, positioning the streaming giant to gain control of HBO, CNN, and the Warner Bros. film studio.