Paramount Skydance Secures $110 Billion Deal for Warner Bros. Discovery

After a competitive bidding war against Netflix, Paramount Skydance has reached a $110 billion agreement to acquire Warner Bros. Discovery. The massive media merger now faces intense regulatory scrutiny across the U.S., EU, and U.K. to ensure compliance with antitrust laws.

4 articles·February 26 – March 5, 2026

Key Points

Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery is currently pending antitrust and regulatory approval.
Warner Bros. Discovery selected Paramount's $31-per-share bid over a competing offer from Netflix.
David Ellison committed to 45-90 day theatrical windows to help secure regulatory clearance in the EU and UK.
Paramount leadership confirmed that CNN and CBS News will operate independently with separate editorial control.

4 News·Thu, Feb 5 – Today

News

CNN and CBS News to stay separate after Paramount merger

Washington Examiner

News

The Paramount-Warner Bros mega-merger still has a few hurdles to get over

The Guardian

News

WBD calls Paramount Skydance bid 'superior' as Netflix lobbies White House

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