In a landmark development, Warner Bros. Discovery has officially signed an agreement to be acquired by Paramount Skydance for $110 billion, marking one of the most consequential media mergers in recent history. This acquisition, confirmed by Bruce Campbell, Warner Bros’ chief revenue and strategy officer, positions Paramount to significantly reshape Hollywood and enhance its media empire. The deal comes after Netflix opted not to match Paramount's revised offer of $31 per share, which exceeded Netflix's bid of $27.75 per share. Netflix's co-CEOs, Ted Sarandos and Greg Peters, remarked that the deal was 'no longer financially attractive,' leading to a notable surge of over 9% in Netflix shares during premarket trading as investors reacted positively to the company's strategic pivot towards internal growth, as reported by Business Recorder on February 27, 2026.
BUSINESS
Paramount Acquires Warner Bros. Discovery For $110 Billion Deal
44% NEUTRAL
Warner Bros. Discovery agrees to a $110 billion acquisition by Paramount Skydance, reshaping Hollywood amid concerns over job cuts and programming shifts at CBS News and CNN. Approval pending.
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BU&Cbbc.com
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