Discovery Networks

Paramount on Friday agreed to delay closing its USD 81 billion buyout of Warner Bros Discovery well into next year, as a judge continues to consider a challenge from 12 states seeking to block the deal altogether. In a court filing, Paramount said it wouldn't close the merger until either a court ruling is made on the merits of the states' lawsuit or June 1, 2027. The move arrives just days after US District Judge Araceli Martinez-Olguin granted a temporary restraining order to freeze the transaction for several weeks, ruling that the states had raised some "serious questions" and a strong case about the merger's potential to "substantially lessen competition." Paramount called Friday's agreement a "significant win because the result is exactly what we have sought from the outset: a direct path to a trial based on the evidence." The company, which was bought by Skydance just last year, added that this was the "fastest and clearest way" to prove its merger was good for competition an

Oregon's AG has withdrawn a court motion seeking to delay Paramount's $110 bn acquisition of Warner Bros, saying the state is considering its next steps after a dispute over access to company records

The dramatic turnaround positions Paramount to acquire Warner Bros in a $110 billion deal, making the Ellison family owners of one of the world's largest entertainment empires

Netflix is declining to raise its offer to buy Warner Bros Discovery's studio and streaming business, in a stunning move that effectively puts Paramount in a position to take over the fellow storied Hollywood giant. On Thursday, after Warner's board announced that Skydance-owned Paramount's offer was superior to the agreement it had previously struck with Netflix, the streaming giant said that at the price that would be required to buy Warner, a deal was "no longer financially attractive." Unlike Netflix's bid, Paramount wants all of Warner's operations, including networks like CNN and Discovery. That would put CNN under the same roof as Paramount's CBS and combine two of Hollywood's last five remaining studios. Warner Bros Discovery has determined that Paramount's latest takeover offer is superior to the streaming and studio agreement it struck with Netflix, marking a stark shift in momentum in the fight for the storied Hollywood giant. The owner of HBO Max, DC Studios and popular

Although the chief focus of the review is likely to be Netflix Inc.'s dominance in the streaming business, the release of Warner Bros. films in theaters has become a concern as well

Paramount has revised its offer, agreeing to cover the $2.8 bn Netflix breakup fee and backstop Warner Bros' debt refinancing to ease board concerns

The battle between Netflix and Paramount over Warner Bros. has grown acrimonious and drawn scrutiny, regardless of which bidder succeeds, setting up a major antitrust test for the Trump administration

Netflix lined up $59 billion of financing from Wall Street banks to help support its acquisition, in the form of one of the largest ever bridge loans

Paramount has a temporary financing package in place for the combined company, but it hasn't locked in a maximum rate on more permanent borrowings for the transaction

Trump has already signalled one personal precondition for a sale: new ownership of longtime bogeyman CNN, in a bid to exert more favorable coverage from the cable network

Trump said his primary concern is that the current management of the network may be rewarded by being allowed to continue operating "with money" from a sale

If Paramount prevails in its $108 bn hostile bid for Warner Bros., it wouldn't need approval from the FCC or Congress, but the contact reflects a broad-based US campaign to shore up support for a deal

By choosing Netflix, Warner Bros. has jilted another bidder, Paramount Skydance Corp., a move that risks touching off a political battle in Washington

The worries raised by the movie and TV industry's biggest trade groups come against the backdrop of falling movie and TV production, slack ticket sales and steep job cuts in Hollywood

Netflix's multibillion-dollar pledge is also a sign of how heated the bidding war got for control of the iconic Hollywood studio

Warner Bros. said it would evaluate strategic options last month after receiving interest in all or part of the business from multiple suitors. The first round of bids are expected today

Paramount, led by David Ellison, has several options, including boosting its bid, going directly to shareholders or finding additional backing through a financial partner

Both companies have struggled as consumers have canceled cable-TV subscriptions in favor of a new generation of streaming services

Discovery shareholders would own 29% of the new company

Of the top 10 kids networks almost all - Viacom 18, WarnerMedia, Disney, Sony Yay, Discovery Kids, and Sun Network - have seen a rise of 20-100 per cent in viewership.