Paramount Skydance Corporation to Merge with Warner Bros. Discovery in a Historic $110B Deal
In a historic move that will reshape the landscape of Hollywood, Paramount Skydance Corporation announced on February 27, 2026, its definitive agreement to acquire Warner Bros. Discovery for $31 per share in cash. This mega-deal is valued at an astounding $110 billion, uniting two legendary film studios to create a global entertainment juggernaut.
The merger announcement follows Netflix’s withdrawal from a competing bid, which resulted in a hefty $2.8 billion termination fee. The newly combined entity will boast a film library exceeding 15,000 titles and operate across more than 200 countries. This merger brings together iconic franchises, from Batman and Harry Potter to Star Trek and SpongeBob SquarePants, under one roof.
The transaction has received unanimous approval from the boards of both companies and is slated to close in Q3 2026. This is, however, subject to regulatory clearances and approval by Warner Bros. Discovery shareholders. Executives anticipate that the merger will generate over $6 billion in synergies through technology integration and operational efficiencies. The companies have pledged to produce a minimum of 30 theatrical films annually—15 per studio.
Source: Paramount Press Release