Los Angeles/New York, Feb. 28 -- Paramount Skydance Corporation and Warner Bros. Discovery, Inc (WBD have announced they have entered into a definitive merger agreement under which Paramount will acquire WBD.

A premier global media and entertainment company focused on expanding consumer choice and empowering creative talent worldwide would be formed.

The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in Q3 2026, subject to customary closing conditions, including regulatory clearances and approval by WBD shareholders, with a vote expected in the early spring of 2026.

Paramount will acquire 100 per cent of WBD for USD 31 per share in cash, plus the "ticking fee", valuing WB...