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Warner Bros Discovery Inks USD110 Billion Deal with Paramount Skydance
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Warner Bros Discovery signed a SUD 11 billion deal with Paramount Skydance Friday morning, as revealed in a global town hall audio clip.
Warner Bros signs USD 110 billion deal with Paramount (Image for representation)
Warner Bros Discovery (WBD.O) signed a SUD 110 billion deal with Paramount Skydance (PSKY.O) Friday morning, the two companies announced, marking one of the most consequential media mergers in recent history.
“Netflix had the legal right to match the PSKY offer. As you all know, they ultimately decided not to do that. That then resulted in a signed agreement with PSKY as of this morning. So that’s where everything stands,” Bruce Campbell, Warner Bros’ chief revenue and strategy officer, said, as quoted by news agency Reuters.
The companies revealed that the deal is expected to close in the third quarter of 2026.
The deal was inked as Netflix declined to match Paramount’s latest USD 31-per-share offer, pulling out of the bidding war for Warner Bros. Discovery’s studio and streaming assets.
According to the Reuters report, citing sources, Warner Bros received the contracts from Paramount on Saturday and within the following two days, it announced that Paramount’s offer was superior.
The deal was immediately approved by board of directors of both media giants, said the companies in a joint statement.
The deal is “subject to customary closing conditions, including regulatory clearances and approval by WBD shareholders, with a vote expected in the early spring of 2026″, the statement read.
Interestingly, Paramount Skydance is headed by David Ellison, the son of Silicon Valley billionaire Larry Ellison, a close ally of President Donald Trump.
“By bringing together these world-class studios, our complementary streaming platforms, and the extraordinary talent behind them, we will create even greater value for audiences, partners and shareholders — and we couldn’t be more excited for what’s ahead,” David Ellison said in a statement.
NOT A ‘MUST HAVE’
In a stunning move hours later, Netflix announced it would not match Paramount Skydance’s latest offer to acquire Warner Bros Discovery. Netflix co-CEOs Ted Sarandos and Greg Peters asserted that “this transaction was always a nice to have at the right price, not a ‘must have’ at any price.”
TRUMP YET TO COMMENT
At one point, President Donald Trump said he might weigh in on the agreement. However, he told NBC News in early February that he would not be “involved” in the proceedings.
Then, last week, he issued a warning to Netflix, saying it would “pay the consequences” if it did not fire board member Susan Rice, an ex-official of the Biden administration.
During a podcast, Rice had said the entities that “take a knee” to the President would be “held accountable” when Democrats return to the office.
Meanwhile, the President is yet to comment on the deal.
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Washington D.C., United States of America (USA)
February 28, 2026, 07:48 IST
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