Warner Bros. Discovery has agreed to be purchased by Paramount Skydance for $110 billion in a deal that was signed on Friday morning, according to a report from Reuters.
"Netflix had the legal right to match the PSKY offer. As you all know, they ultimately decided not to do that. That then resulted in a signed agreement with PSKY as of this morning. So that's where everything stands," Bruce Campbell, Warner Bros' chief revenue and strategy officer, said in the townhall where the deal was being discussed.
The deal includes some $29 billion in debt in addition to the payment, and it will be one of the largest media shake-ups in Hollywood. Paramount will now own the rights to the intellectual property formerly owned by Warner Bros. Discovery.
“We are doomed,” one CNN staffer said
— Jack Posobiec (@JackPosobiec) February 27, 2026
“We are f**ked,” said another
“The panic at CNN right now is off the charts,” one insider said, per report pic.twitter.com/ct76HU87A6
