Paramount Announces $110B Deal to Buy Warner Bros. Discovery

UNITED STATES – In a major shake-up of the global media landscape, Paramount Skydance has agreed to acquire Warner Bros. Discovery in a deal valued at approximately $110B.

The two companies confirming Friday that Paramount will pay 31 dollars per share in cash for all outstanding shares of W-B-D.

Reuters reports the boards of both companies unanimously approved the transaction, which is expected to close in the third quarter of 2026 – pending regulatory clearances and shareholder approval.

The merger would bring together major brands including CNN, HBO, HGTV, Food Network, and DC Studios under one corporate umbrella, spanning film, television, streaming and traditional networks.

The deal follows a tense bidding war, after Netflix initially struck an agreement to purchase a large portion of Warner Bros. Discovery in December.