Paramount to Buy Warner Bros. for $110B as Netflix Withdraws Bid

Paramount Skydance agreed to acquire Warner Bros. Discovery for $110 billion following the withdrawal of a competing bid from Netflix.The deal, which includes a $47 billion equity contribution from Larry Ellison, was preceded by political pressure on Netflix from Republicans like Jason Smith.Jon Stewart raised concerns about the editorial independence of CNN under the new ownership as the merger begins a regulatory review in the USA.While Donald Trump recently invested up to $1.25 million in Netflix bonds, Netflix Chief Financial Officer Spencer Neumann expects the company to focus on organic growth.