Warner Bros. Discovery
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.
FCC Commissioner Anna Gomez has called for a thorough review of foreign investments in Paramount's proposed merger with Warner Bros. Discovery. The deal would result in 49.5% foreign ownership, including significant stakes from Saudi Arabia, Qatar, and Abu Dhabi. Gomez expressed concerns over national security and press freedom.
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Paramount Skydance has filed with the FCC stating that the merged Paramount-Warner Bros. Discovery will see Middle Eastern funds holding 38.5% of the equity. Saudi Arabia’s Public Investment Fund will take a 15.1% stake, the UAE’s sovereign wealth fund 12.8%, and Qatar Investment Authority 10.6%. Foreign investors will lack board seats or voting shares, with control remaining with the Ellison family and RedBird Capital Partners.
Starting February 2, Warner Bros. Discovery is bringing over 750 Looney Tunes shorts to Turner Classic Movies, marking a new chapter for the classic cartoons. The network will kick off the arrival with a weeklong marathon featuring 45 Bugs Bunny episodes. This six-year licensing deal aims to preserve and showcase the iconic library alongside classic films.
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Canal+ and Warner Bros. Discovery have signed a multi-year, multi-territory agreement to bolster their global collaboration. The deal expands HBO Max availability and renews channel distributions across Europe and Africa. It builds on prior partnerships amid Warner Bros. Discovery's pending acquisition by Netflix.