Summary
Warner Bros. Discovery accepted a $31-per-share takeover bid from Paramount Skydance after rejecting offers from both Paramount and Netflix. The move created a competitive bidding war that increased Warner Bros.' market value by $23 billion. The deal's approval is dependent on regulatory review.
Key Facts
- Warner Bros. Discovery agreed to a $31-per-share takeover deal from Paramount Skydance.
- Paramount's bid was 63% higher than its original $19-per-share offer in September.
- Netflix chose not to raise its offer, allowing Paramount Skydance to be the winning bidder.
- Warner Bros. Discovery's market value increased by $23 billion in five months.
- Regulatory approval is still required for the deal to be finalized.
- Paramount Skydance's CEO David Ellison attended President Trump's State of the Union address.
- The acquisition would give Paramount ownership of major movie studios, news networks, and streaming platforms.
