Paramount acquires Warner Bros. Discovery in $111 billion deal, reshaping media landscape

Paramount has officially acquired Warner Bros. Discovery for $111 billion, surpassing Netflix's offer. This deal, approved by the U.S. Department of Justice, combines major studios, streaming platforms, and TV networks under Paramount, now renamed Skydance. The acquisition creates a media giant with nearly $70 billion in annual revenue and is expected to merge streaming services like Paramount+, HBO Max, and Discovery+.