Paramount Completes $81B Acquisition of Warner Bros.

Dow Jones10-06 21:01

Paramount closed its $81 billion deal for Warner Bros. Discovery, finalizing a tie up that creates one of the world's largest media and entertainment companies.

Paramount announced the completion of the deal on Tuesday, as expected. Under the terms of the deal, Warner shareholders received about $31.02 a share in cash. Warner shares stopped trading on the Nasdaq effective Tuesday.

The deal's close comes after Paramount spent more than a year fending off rival bidders, federal regulators and state attorneys general to finalize the transaction.

A federal judge last week approved Paramount's settlement with 12 state attorneys general to resolve an antitrust case, paving the way for the acquisition to close.

The company on Monday laid out more details of the combined company's leadership structure, confirming Paramount's Chief Executive David Ellison will be chairman and CEO of the combined company - dubbed Skydance - alongside co-CEO Ynon Kreiz, the outgoing CEO of Mattel. It also confirmed the positions of Bari Weiss and Mark Thompson.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment