Warner Bros Discovery officially signs $110 billion deal with Paramount

Paramount Skydance has agreed to acquire Warner Bros Discovery in a $110 billion deal. Warner Bros' chief revenue officer, Bruce Campbell, confirmed that Netflix opted not to match Paramount's offer, leading to the signed agreement.

The deal, which includes $29 billion in debt, will create one of the largest film studios worldwide, leveraging Warner's valuable intellectual properties.

Paramount aims to enhance its streaming services by possibly merging HBO Max with Paramount+.

The acquisition follows a bidding war initiated by Paramount after raising its offer to $31 per share. However, the deal may face antitrust scrutiny from regulators and concerns from lawmakers about reduced consumer choice and job losses in the industry.