Paramount to Acquire Warner Bros in $110 Billion Deal

Warner Bros Discovery has agreed to be acquired by Paramount Skydance for $110 billion, according to Reuters. The deal was signed on Friday.

Bruce Campbell, head of revenue and strategy at Warner Bros, stated that Netflix had the right to match the offer but chose not to.

Paramount's stock rose by 24%, while Netflix's increased by 13%.

The European Union is expected to approve the deal, while California Attorney General Rob Bonta will conduct a thorough review.

The deal, which includes $29 billion in debt, will create one of the largest film studios in the world, allowing Paramount to leverage intellectual property such as the 'Fantastic Beasts' and 'The Matrix' franchises.

Source: Πρώτο Θέμα