Paramount has struck a $110bn deal to buy Warner Bros Discovery.The deal was struck after Netflix walked away from a bidding war for the company.
Netflix had declined to match Paramount’s latest $31-per-share offer on Thursday – having offered a $27.75-per-share agreement for its studio and streaming assets.
Paramount, which is led by billionaire Larry Ellison’s son David, has deep political connections to Donald Trump’s administration.Regulators in California are preparing a vigorous review of the deal, which could reshape Hollywood.
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