A day after Netflix withdrew its title from the high-stakes bidding battle for Hollywood studio Warner Bros Discovery, Paramount has finalised its bid to amass the studio and its property. In line with Reuters, Warner Bros Discovery has agreed to be acquired by Paramount Skydance in a $110 billion deal.
Warner Bros agrees to be acquired by Paramount
In a press release launched by the businesses on Friday, they stated that the deal, with an fairness worth of $81 billion, is anticipated to shut within the third quarter of 2026. The ultimate particulars of the deal have been confirmed by Warner Bros in a townhall held earlier within the day.
The merger would create a media powerhouse, combining main studios and networks reminiscent of CNN and CBS to compete extra aggressively, as streaming has upended the trade by drawing audiences away from conventional linear TV.
What the longer term holds for the brand new mega studio
The brand new mixed entity will boast a movie library of over 15,000 movie, TV , and streaming titles, together with globally common franchises like Recreation of Thrones, Mission Unimaginable, Harry Potter, and the DC Universe.
For months, Netflix had been the favorite to shut the deal. The streaming pioneer had launched a $27.75-per-share settlement for WB’s studio and streaming property. The deal, valued at $83 billion, was finally upended by Paramount on Thursday with its newest $31-per-share supply. Moreover, whereas Netflix had provided to purchase solely Warner Bros’ studio and streaming property, Paramount was shopping for the entire firm.
WB executives gave Netflix 4 enterprise days to give you a greater counteroffer, however the streaming big refused. Warner Bros obtained the contracts from Paramount on Saturday, and throughout the following two days of continuous negotiation, it concluded that Paramount’s supply was superior, Reuters reported.
Warner Bros shareholders are anticipated to vote on the proposed merger in early spring of 2026, the businesses stated. The brand new firm has pledged to take care of each studios and produce a minimal of 30 theatrical movies yearly.
‘This merger have to be blocked’
Nonetheless, cinema operators and trade insiders are anxious that combining massive Hollywood studios might price jobs. “The lack of competitors can be a catastrophe for writers, shoppers and the whole leisure trade. This merger have to be blocked,” the Writers Guild of America, a union representing 1000’s of tv and movie writers, together with different media employees, stated in a press release.