Warner Bros. Discovery – Paramount Skydance Merger

Paramount Skydance agreed to acquire Warner Bros. Discovery for $110.9 billion after beating competing bids from Netflix and other companies in a months-long takeover battle.
Although WBD shareholders approved the deal and the U.S. Justice Department approved it in June 2026, the merger faces ongoing antitrust litigation and regulatory scrutiny over media consolidation.
The transaction is now expected to close on June 1, 2027, assuming Paramount and WBD can overcome the remaining legal and regulatory hurdles.