Back to today’s briefing

Story perspectives

Paramount Skydance Wins $77B Warner Bros. Bid Amid Concerns

2/28/2026

43 8 Full Breakdown

Center

Paramount Acquires Warner Bros.

Paramount Skydance has emerged as the winning bidder for Warner Bros. Discovery after Netflix withdrew.
The offer is $31 per share, valuing WBD at about $77 billion.
Netflix co-CEOs said the deal is no longer financially attractive.
Regulators are expected to scrutinize the merger for antitrust concerns.
Critics warn it could cause job losses and reduced media diversity, noting Ellison family ties to President Donald Trump.

Right

CNN Staff Anxious

Paramount Skydance's acquisition of Warner Bros. Discovery, including CNN, has sparked anxiety among CNN staff about job losses and editorial changes.
Paramount CEO David Ellison, known for ties to Trump, may shift CNN toward a centrist stance.
Some insiders say the merger could yield a news product appealing to a broader audience.
CNN President Mark Thompson urged staff to stay calm and emphasized quality journalism amid uncertainty.

History

Historical Context

AT&T's acquisition of Time Warner for $85.4 billion in 2016 marked a significant shift in the media landscape, raising antitrust concerns that led to a high-profile lawsuit by the U.S. Department of Justice in 2017. The merger, approved in June 2018, transformed Time Warner into WarnerMedia, illustrating ongoing tensions between traditional media and emerging digital platforms, with implications for content diversity and consumer choice.

1 of 3

Paramount Acquires Warner Bros.

Paramount Skydance has emerged as the winning bidder for Warner Bros. Discovery after Netflix withdrew.
The offer is $31 per share, valuing WBD at about $77 billion.
Netflix co-CEOs said the deal is no longer financially attractive.
Regulators are expected to scrutinize the merger for antitrust concerns.
Critics warn it could cause job losses and reduced media diversity, noting Ellison family ties to President Donald Trump.

1 / 3