Warner Bros. Discovery agrees to $110 billion Paramount merger

Warner Bros. Discovery (WBD) and Paramount Skydance have officially announced their merger, creating a significant media entity that will integrate WBD's studio, linear channels, streaming service, and gaming segment into Paramount. Initially, WBD had signed an $83 billion agreement to merge part of Warner Bros. with Netflix. However, after a series of offers and a hostile takeover bid from Paramount, WBD concluded that Paramount's final offer was superior. Netflix subsequently declined to match Paramount's bid, leading to this landmark merger in the media industry.

• WBD and Paramount Skydance have finalized a merger agreement.
• The merger is valued at $110 billion.
• WBD's assets will be integrated into Paramount.
• Netflix declined to match Paramount's superior bid.
• The deal marks a significant shift in the media landscape.