The plan for Paramount Skydance Corp. to take control of Warner Bros. Discovery Inc., the owner of one of Hollywood’s largest and most venerable film studios, is likely to impact the entertainment industry for decades to come. After a monthslong battle for the company’s assets, Paramount outbid Netflix Inc., the world’s dominant streaming platform, by agreeing to pay $111 billion for Warner Bros. The deal still requires regulatory approval.
Why was Warner Bros. up for grabs?
Streaming has changed the way movies and TV shows are distributed, putting pressure on legacy media companies by cutting into revenue ...
