Warner Bros. agrees to be acquired by Paramount in $110 billion deal, reports say

"Warner Bros. Discovery on Friday agreed to be acquired by Paramount Skydance in a deal worth $110 billion, Reuters and Deadline reported, citing remarks by Warner Bros. executive. Bruce Campbell, Warner Bros' chief revenue and strategy officer, made the announcement at a morning town hall, according to Reuters."

"The announcement came after a monthslong bidding war, in which Paramount emerged as the victor in the fight to acquire the storied Warner Bros. Netflix, who backed away from the deal Thursday, had hoped to win the movie studio and its vast film library. Paramount wants it all: Movies, cable networks and news."

"Almost 10 years ago, Hollywood's big six became the big five when Disney bought most of 20th Century Fox. Now the big five looks like it's destined to become the big four, including Universal and Sony, and the business of Hollywood moviemaking is one again in a time of profound transition."

Warner Bros. Discovery has agreed to be acquired by Paramount Skydance in a $110 billion deal, marking a major consolidation in Hollywood. The announcement was made by Bruce Campbell, Warner Bros' chief revenue and strategy officer, following a monthslong bidding war. Paramount emerged victorious over Netflix, which withdrew from the competition on Thursday. Paramount seeks to acquire Warner Bros.' movies, cable networks, and news operations. This consolidation reduces Hollywood's major studios from five to four, alongside Universal and Sony. The industry continues experiencing significant structural changes, with this merger representing another major shift in the entertainment landscape.

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