Warner Bros Discovery confirmed that it has agreed to be acquired by Paramount Skydance in a $110B deal according to multiple outlets. The deal ended a dramatic bidding war between Paramount and Netflix who walked away from the acquisition after it looked as though it was set for the acquisition.
Assuming the deal goes through, the deal would shake-up the entertainment industry as well as a continued consolidation of media to conform to the whims of the current governmental administration.
Paramount offered to acquired Warner Bros Discovery for $31-per-share. It bested Netflix offer of $27.76 per-share.
Assuming that the merger will be pushed through Paramount will own, DC Comics, HBO, CNN, TBS, TNT, Turner Classic Movies, OWN, HGTV, Food Network, the Discovery Channel, TLC and Adults Swim. It will also have access to more film rights and intellectual property. The shift in power will include a say in what movies can and will be made in the future.
The tie-in to combat sports is that WBD is AEW’s broadcast partner which may affect where it may go after the acquisition. As with other mergers, jobs and programs get cut. The deal carries a lot of debt with it so if AEW is not thought of as a valuable source of programming or content the new entity could cut its budget which would impact the product.
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