Paramount Acquires Warner Bros. Discovery for $111 Billion
Warner Bros. Discovery (WBD) has undergone a major transformation after years of financial struggles due to declining cable viewership and competition from streaming platforms. In December, Netflix initially won the bidding war with an offer of $82.7 billion for WBD’s film, television, and streaming assets. However, in late February, Paramount Global—led by David Ellison and backed by Oracle chairman Larry Ellison—took over as the winning bidder with a higher all-cash offer of $111 billion to acquire all of WBD's assets. The deal faced regulatory scrutiny from both federal and state authorities but was ultimately approved. A lawsuit filed in July 2026 by twelve state attorneys general briefly paused the acquisition, yet it received final court approval in late September and officially closed on October 6. The transaction includes major properties such as HBO, CNN, HGTV, and WBD’s streaming platforms. This landmark deal is expected to significantly reshape Hollywood's media landscape and could influence future competition among entertainment giants.
Topics: acquisition entertainment media Paramount streaming Warner Bros. Discovery