Overview
- Paramount Skydance publicly offered $30 per WBD share in cash for the entire company, calling its proposal superior and alleging an unfair sale process that favored Netflix.
- President Donald Trump said the transaction "could be a problem" on antitrust grounds and indicated he will be involved in the review, which is led by the U.S. Department of Justice.
- The signed agreement prices WBD at about $82.7 billion in enterprise value, or $27.75 per share for the studios and HBO assets, with $23.25 in cash plus $4.50 in Netflix stock.
- Closing depends on a separate spin‑off of Discovery Global’s cable networks, shareholder approval, and U.S. and European regulatory clearance, with an expected timeline of roughly 12–18 months.
- Netflix told subscribers there will be no immediate service changes and agreed to a multibillion‑dollar breakup fee if regulators block the deal, as entertainment unions urge authorities to stop it.