Paramount to buy Warner Bros Discovery in US$110 billion deal as Netflix bows out of race
BNN Bloomberg
Warner Bros Discovery has agreed to be acquired by Paramount Skydance in a US$110 billion deal, ending a high-stakes bidding war after Netflix walked away from its agreement with the HBO Max owner.
The deal, with an equity value of $81 billion, is expected to close in the third quarter of 2026, the companies said on Friday. Reuters first reported on Warner Bros Discovery and Paramount signing a deal earlier in the day, citing an audio clip of a global townhall held by the company.
The merger would create a media powerhouse, combining major studios and networks such as CNN and CBS to compete more aggressively, as streaming has upended the industry by drawing audiences away from traditional linear TV.
The combined company will boast a film library of over 15,000 titles and popular franchises such as “Game of Thrones,” “Mission Impossible,” “Harry Potter,” and the DC Universe, the companies said in a statement.
Netflix on Thursday declined to match Paramount’s latest $31-per-share offer, which Warner Bros deemed superior to the streaming pioneer’s $27.75-per-share agreement for its studio and streaming assets.
Warner Bros received the contracts from Paramount on Saturday and within the following two days on non-stop negotiation, it concluded that Paramount’s offer was superior, according to a source familiar with negotiations.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.
The U.S. Trade Representative’s office said late on Thursday it had begun Section 301 unfair trade practices probes of 60 economies in relation to what it called failures to take action on forced labor.
Global equity funds recorded the largest weekly outflows since mid-December in the seven days to March 11 as disruptions to oil supplies stemming from the ongoing U.S.-Israel conflict with Iran stoked concerns about inflation and global economic growth.