LOS ANGELES — Paramount appears to be the winner in the fight to acquire Warner Bros., and in doing so, two of Hollywood’s oldest studios will consolidate into one.
News of Paramount completing a deal with Warner Bros. Discovery comes a day after Netflix backed away from a deal that would win it a movie studio and its vast film library.
In a press release on Friday, Paramount said it had entered a definitive merger agreement in which Paramount would acquire Warner Bros. Discovery.
Paramount will pay $31.00 per share in cash for all outstanding shares of Warner Bros. Discovery, according to the press release.
The transaction has already been unanimously approved by the boards of directors of both companies and is expected to close in Q3 2026, subject to customary closing conditions, including regulatory clearances and approval by Warner Bros. Discovery shareholders, with a vote expected in the early spring of 2026.
“From the very beginning, our pursuit of Warner Bros. Discovery has been guided by a clear purpose: to honor the legacy of two iconic companies while accelerating our vision of building a next-generation media and entertainment company,” said David Ellison, chairman and CEO of Paramount, a Skydance Corporation, in a statement. “By bringing together these world-class studios, our complementary streaming platforms, and the extraordinary talent behind them, we will create even greater value for audiences, partners and shareholders — and we couldn’t be more excited for what’s ahead.”
David Zaslav, who is the president and CEO of Warner Bros. Discovery, issued the following statement:
“I’m very pleased with the outcome we achieved for WBD shareholders and the entertainment industry. Our guiding principle throughout this process has been to secure a transaction that maximizes the value of our iconic assets and our century-old studio while delivering as much certainty as possible for our investors. We look forward to working with Paramount to complete this historic transaction.”
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‘ Some details of this article were extracted from the following source spectrumlocalnews.com ’
