Warner Bros signs $110 billion deal with Paramount, its executive discloses in townhall

Warner Bros Discovery has agreed to be acquired by Paramount Skydance in a $110 billion deal signed Friday morning, according to an audio clip of a global townhall by the company, which was reviewed by Reuters.

“Netflix had the legal right to match the PSKY offer. As you all know, they ultimately decided not to do that. That then resulted in a signed ‌agreement with PSKY ⁠as ⁠of this morning. So that’s where everything stands,” Bruce Campbell, Warner Bros’ chief revenue and strategy officer, said in the townhall.