Story
Paramount, Warner Bros. Discovery Target October 6 to Finalize Merger
Summary
The two media giants announced they expect their previously announced merger to close on October 6, finalizing a major consolidation in the entertainment industry. Warner Bros. Discovery shareholders are set to receive approximately $31.02 per share.
Paramount Skydance (NASDAQ: PSKY) and Warner Bros. Discovery (NASDAQ: WBD) announced on Wednesday they expect their landmark merger to close on October 6. The move brings the two media titans one step closer to combining their extensive entertainment and streaming operations.
Deal Terms and Closing Details
The companies stated that the closing remains subject to customary conditions. According to the merger agreement, which was first announced in February, Warner Bros. Discovery shareholders will receive $31.00 in cash per share.
An additional payment of $0.00277778 for each calendar day after September 30 will be added until the deal is finalized. If the transaction closes on the expected date of October 6, WBD shareholders will receive a total of $31.01666668 per share, the companies confirmed.
AdA New Media Behemoth
The transaction represents a significant consolidation within the global media industry, as companies seek greater scale to compete in film, television, and the crowded streaming market. The combined entity will merge a vast portfolio of iconic brands and production studios.
- Warner Bros. Discovery assets include: HBO Max, Warner Bros. film studio, CNN, and the Discovery networks.
- Paramount assets include: Paramount Pictures, the CBS broadcast network, Nickelodeon, and the streaming services Paramount+ and Pluto TV.
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