Hollywood Merger
Paramount secures Warner Bros. Discovery in $110 billion deal
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Paramount Skydance has finalized a $110 billion agreement to acquire Warner Bros. Discovery, outbidding Netflix after months of competition. The deal, valued at $31 per share, includes commitments to theatrical releases but faces immediate antitrust scrutiny from state attorneys general. Netflix received a $2.8 billion termination fee upon walking away from its prior bid.
Following the late February announcement of the $110-111 billion Paramount-Warner Bros. Discovery merger, Paramount CEO David Ellison addressed about 200 top Warner Bros. executives on March 10, 2026, at the Burbank studio lot. He outlined ambitions like increased theatrical releases and saluted CNN staff, while legal restrictions limited detailed strategy talks. Attendees called the session perfunctory, with concerns over cost savings and layoffs persisting.
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U.S. Senators Elizabeth Warren and Richard Blumenthal have criticized the Trump administration for not initiating a national security review of Paramount Skydance's proposed $111 billion acquisition of Warner Bros. Discovery. The deal is backed by billions from Middle Eastern sovereign wealth funds, raising concerns about foreign influence in American media. The senators urged the Committee on Foreign Investment in the United States to examine potential risks.