Paramount Clinches Massive Warner Bros. Discovery Deal, Overtaking Netflix
Paramount Skydance emerges victorious in the bidding war for Warner Bros. Discovery, acquiring the media powerhouse's streaming service, iconic IP, and cable channels.
Paramount has emerged as the new owner of Warner Bros. Discovery (WBD), outmaneuvering Netflix in a high-stakes acquisition battle. The media conglomerate has agreed to pay an equity value of $72 billion, or an approximate total enterprise value of $82.7 billion, to acquire WBD's streaming and movie studios businesses, including popular franchises like Game of Thrones, DC Comics, and the HBO Max streaming service.
The deal came after Netflix initially announced plans to acquire WBD in December 2025, but the streaming giant has now backed out of the deal, citing it as no longer financially attractive. Meanwhile, Paramount has been eyeing WBD for years and has been aggressive in its pursuit, culminating in a successful hostile takeover bid.
{{IMAGE_PLACEHOLDER}}Source: Ars Technica
