Warner Bros Discovery has agreed to be acquired by Paramount Skydance in a $110 billion deal, ending a high-stakes bidding war after Netflix walked away from its agreement with the HBO Max owner.
The deal, with an equity value of $81 billion, is expected to close in the third quarter of 2026, the companies said Friday.
On Thursday, Netflix declined to match Paramount¡¯s latest $31-per-share offer, which Warner Bros deemed superior to the streaming pioneer¡¯s $27.75-per-share agreement for its studio and streaming assets.
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