Producer David Ellison at the “Top Gun Maverick” UK premiere in London on May 19, 2022. Alberto Pezzali/AP Photo
Paramount Skydance Corporation revealed Friday that it has agreed to acquire Warner Bros. Discovery for cash—a transaction valued at $110 billion. The deal ends a hostile takeover bid and a bidding war for the company that included offers from Netflix.
Each company’s board unanimously signed off on the merger. Under the new deal, Paramount+, HBO Max, and Pluto TV will operate under one umbrella. Paramount is set to pay $31 per share for outstanding Warner Bros. Discovery shares.
