Warner Bros. Discovery agreed to sell to Paramount for $110 billion
If successful, Paramount will be able to tap into Warner Bros.' intellectual property library and potentially merge the HBO Max and Paramount+ platforms.
Warner Bros. Discovery and Paramount Skydance have reached an agreement to sell their assets, with Paramount acquiring the company’s studio and broadcasting businesses. The deal was announced by Bruce Campbell, Warner Bros. chief revenue and strategy officer.
The deal is valued at $110 billion, including about $29 billion in debt. Paramount’s offer of $31 per share beat Netflix’s offer of $27.75, which had the right to match but chose not to.
The acquisition is subject to approval by antitrust authorities for the transaction to be completed.
The merger will allow Paramount to operate WBD franchises such as “Fantastic Beasts” and “The Matrix.” Under the agreement, Paramount will also pay Netflix $2.8 billion in fines and increase its regulatory non-compliance settlement from $5.8 billion to $7 billion.
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