Paramount has emerged victorious in the takeover battle for the U.S. media conglomerate Warner Discovery. The two companies announced on Friday that they had reached a definitive merger agreement after Netflix withdrew its bid.
Under the deal, Paramount will pay Warner shareholders $31.00 in cash for every outstanding share, valuing the company at roughly $110 billion. Both boards approved the transaction unanimously, as reported on Friday.
Completion is conditioned on regulatory approval and the approval of Warner shareholders in the third quarter of 2026. If the deal is not closed by September 30, Warner shareholders will receive a daily calculated compensation of $0.25 per share, paid quarterly, until the transaction is finalized.
