Paramount's pursuit of Warner Bros. Discovery (WBD) has cleared a major regulatory hurdle, advancing one of the most closely watched takeover battles the media industry has seen in years.
A $31-a-share deal
According to reports, the clearance paves the way for Paramount to acquire WBD in a deal valued at $31 a share in cash, forming a premier global media and entertainment company. The combination would unite major film studios, streaming services and cable networks.
Closing ahead
The companies had entered into a definitive merger agreement earlier in the year, with the transaction expected to close subject to remaining conditions. The deal caps a hard-fought contest for control of the storied Warner Bros. assets.
Source: Warner Bros. Discovery (SEC filings) and media reports.