Paramount and Warner Bros. Discovery unveil megamerger

DW News · Feb 27, 2026 · Collected from RSS

Summary

Paramount is set to buy Warner Bros. Discovery, the parent company of Warner Bros. movie studio, HBO and CNN. The merger represents one of the most significant media consolidations in recent history.

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Warner Bros. Discovery Friday signed a formal agreement to be acquired by Paramount, the two companies said Friday. Paramount's bid, that stands at more than $110 billion (€93 billion), comes after Netflix dropped out of its bidding warfor the storied Hollywood studio. The acquisition also means that Paramount will be the new owners of the HBO Max streaming business and major news broadcaster CNN. Paramount-WBD sign merger deal: What to know The deal will see Paramount pay $31 a share for Warner Bros. Discovery as well as a $7 billion regulatory termination fee in the event the transaction falls through because of regulatory matters. Paramount has deep political connections to the Trump administration, which could get it federal regulatory approval for its deal. California State Attorney General Rob Bonta said on Thursday that California is already investigating the deal and will be "vigorous" in its review. Paramount, which owns CBS and MTV, was sold last year to media company Skydance. Paramount Skydance is led by David Ellison, the son of tech titan Larry Ellison, who is one of the richest people in the world and a close ally of President Donald Trump. David Ellison, the CEO of Paramount Skydance, is 43 years oldImage: Charly Triballeau/AFP/Getty Images Paramount-WBD merger raise media concerns The new merger will put CNN under the same corporate umbrella as CBS News. CBS News, whose parent company was Paramount, has undergone many changes since being taken over by Skydance. Bari Weiss, the editor-in-chief of CBS News, has accused mainstream media of liberal bias and has earned praise from Donald Trump. Weiss was handpicked by David Ellison to lead the news organization. "CNN employees and viewers have serious concerns about whether Paramount CEO David Ellison will uphold the news network’s editorial independence amid severe political turbulence," CNN media analyst Brian Stelter wrote on Friday. Paramount and Warner Bros. Discovery said they expect more than $6 billion in savings, driven by technology integration, corporate efficiencies and streamlining operations. Edited by: Wesley Dockery

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Bloombergabout 4 hours ago

Paramount’s $57.5 Billion of Warner Debt to Mix Junk, High Grade

Paramount Skydance Corp.’s takeover of Warner Bros. Discovery Inc. is expected to feature an unusual combination of investment-grade and junk-rated debt, as Wall Street banks turn to as many markets as possible to raise $57.5 billion of debt for the acquisition.

DW Newsabout 5 hours ago

Paramount to acquire Warner Bros. Discovery in decision which could alter US media and entertainment landscape

Paramount is set to buy Warner Bros. Discovery, the parent company of Warner Bros. movie studio, HBO and CNN.

Ars Technicaabout 5 hours ago

Under a Paramount-WBD merger, two struggling media giants would unite

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Engadgetabout 6 hours ago

Paramount agrees to buy Warner Bros. Discovery, pays Netflix $2.8 billion for breakup

Paramount Skydance and Warner Bros. Discovery are officially merging. The studio paid Netflix the $2.8 billion termination fee it was owed for breaking its original deal to buy Warner Bros. earlier today, and the historic film studio has now formally accepted Paramount’s offer. Along with the deal, which values Warner Bros. Discovery at $31 per share, Paramount is making several commitments to assuage the fears of regulators and the entertainment community. Those include a guarantee that the new company will produce 30 theatrical films annually, that theatrical releases will have a minimum 45-day window in theaters before they’re brought to video on demand (something Netflix ultimately also agreed to) and that deal itself will close by Q3 2026. This turnaround in Paramount's fortunes has happened quickly. Warner Bros. Discovery announced that Paramount's offer was superior to Netflix's on Thursday, and not long after the streaming service said that it wouldn't provide a counter offer, effectively abandoning its previous agreement. Ultimately, Netflix and Paramount were vying for different parts of Warner Bros. Disocvery. Netflix was primarily interested in Warner Bros. proper, while Paramount Skydance wanted the whole company, cable networks and all. Either deal would need to be approved by regulators, which is the hurdle Paramount and Warner Bros. Discovery face now. The general assumption has been that the close relationship Paramount CEO David Ellison and his billionaire father Larry Ellison have with the Trump administration would smooth over any issues, but the deal will receive scrutiny abroad and likely also at the state level, based on a recent post from California Attorney General Rob Bonta. Paramount Skydance has proven its willingness to comply with President Donald Trump, but delays in closing the deal could be costly. The company is on the hook to pay Warner Bros. Discovery "a daily ticking fee equal to $0.25 per share per quarter beginning after Septem

The Vergeabout 6 hours ago

Warner Bros. Discovery agrees to $110 billion Paramount merger

Warner Bros. Discovery and Paramount Skydance's merger agreement is now official. On Friday, the two companies announced plans to merge into a massive media company that will fold WBD's studio, linear channels, streaming service, and gaming segment into Paramount. Though WBD initially signed onto an $83 billion agreement to merge part of Warner Bros. with Netflix, Paramount persisted with a hostile takeover bid, followed by a series of offers. That persistence paid off, as WBD determined that Paramount's "best and final" offer is "superior" to Netflix's deal. On Thursday, Netflix declined to match Paramount's bid, calling it "no longer fina … Read the full story at The Verge.

Financial Timesabout 6 hours ago

Project Warrior: How Paramount beat Netflix in $110bn battle for Warner

Ellison father and son viewed deal as a matter of survival to compete with tech giants that now dominate Hollywood

Paramount and Warner Bros. Discovery unveil megamerger

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Bloombergabout 4 hours ago
Paramount’s $57.5 Billion of Warner Debt to Mix Junk, High Grade
Paramount Skydance Corp.’s takeover of Warner Bros. Discovery Inc. is expected to feature an unusual combination of investment-grade and junk-rated debt, as Wall Street banks turn to as many markets as possible to raise $57.5 billion of debt for the acquisition.

DW Newsabout 5 hours ago
Paramount to acquire Warner Bros. Discovery in decision which could alter US media and entertainment landscape
Paramount is set to buy Warner Bros. Discovery, the parent company of Warner Bros. movie studio, HBO and CNN.

Ars Technicaabout 5 hours ago
Under a Paramount-WBD merger, two struggling media giants would unite
Can two declining companies form a profitable one?

Engadgetabout 6 hours ago
Paramount agrees to buy Warner Bros. Discovery, pays Netflix $2.8 billion for breakup
Paramount Skydance and Warner Bros. Discovery are officially merging. The studio paid Netflix the $2.8 billion termination fee it was owed for breaking its original deal to buy Warner Bros. earlier today, and the historic film studio has now formally accepted Paramount’s offer. Along with the deal, which values Warner Bros. Discovery at $31 per share, Paramount is making several commitments to assuage the fears of regulators and the entertainment community. Those include a guarantee that the new company will produce 30 theatrical films annually, that theatrical releases will have a minimum 45-day window in theaters before they’re brought to video on demand (something Netflix ultimately also agreed to) and that deal itself will close by Q3 2026. This turnaround in Paramount's fortunes has happened quickly. Warner Bros. Discovery announced that Paramount's offer was superior to Netflix's on Thursday, and not long after the streaming service said that it wouldn't provide a counter offer, effectively abandoning its previous agreement. Ultimately, Netflix and Paramount were vying for different parts of Warner Bros. Disocvery. Netflix was primarily interested in Warner Bros. proper, while Paramount Skydance wanted the whole company, cable networks and all. Either deal would need to be approved by regulators, which is the hurdle Paramount and Warner Bros. Discovery face now. The general assumption has been that the close relationship Paramount CEO David Ellison and his billionaire father Larry Ellison have with the Trump administration would smooth over any issues, but the deal will receive scrutiny abroad and likely also at the state level, based on a recent post from California Attorney General Rob Bonta. Paramount Skydance has proven its willingness to comply with President Donald Trump, but delays in closing the deal could be costly. The company is on the hook to pay Warner Bros. Discovery "a daily ticking fee equal to $0.25 per share per quarter beginning after Septem

The Vergeabout 6 hours ago
Warner Bros. Discovery agrees to $110 billion Paramount merger
Warner Bros. Discovery and Paramount Skydance's merger agreement is now official. On Friday, the two companies announced plans to merge into a massive media company that will fold WBD's studio, linear channels, streaming service, and gaming segment into Paramount. Though WBD initially signed onto an $83 billion agreement to merge part of Warner Bros. with Netflix, Paramount persisted with a hostile takeover bid, followed by a series of offers. That persistence paid off, as WBD determined that Paramount's "best and final" offer is "superior" to Netflix's deal. On Thursday, Netflix declined to match Paramount's bid, calling it "no longer fina … Read the full story at The Verge.

Financial Timesabout 6 hours ago
Project Warrior: How Paramount beat Netflix in $110bn battle for Warner
Ellison father and son viewed deal as a matter of survival to compete with tech giants that now dominate Hollywood