Paramount and Warner Bros. Discovery Announce Monumental Merger

In a groundbreaking move, Paramount Skydance Corporation and Warner Bros. Discovery Inc. have confirmed a merger agreement that will see Paramount acquire WBD. The merger aims to develop an influential global media and entertainment entity focused on broadening consumer options and amplifying creative talent.

The Boards of Directors for both parties have given their unanimous approval, with the transaction slated to close in the third quarter of 2026. The deal awaits standard closing conditions, including regulatory consent and WBD shareholder approval, with a voting set for early spring 2026. Paramount's acquisition will see WBD stockholders offered USD 31 per share, cumulatively valuing WBD at USD 81 billion in equity.

This merger is poised to enhance storytelling prowess across film, TV, and streaming domains. Combining Paramount and WBD's robust intellectual properties, from 'Game of Thrones' to 'Top Gun,' the venture promises diverse consumer offerings through elite platforms. Leaders from both companies express optimism, citing value creation for audiences and shareholders alike as primary objectives of the partnership.