Paramount and Warner Bros. Discovery Agree to Historic Merger

Paramount and Warner Bros. are officially becoming one ... a historic merger -- and a huge Hollywood twist after Netflix bowed out yesterday of the race as the finish line was in sight.

28 Feb, 00:01 — 28 Feb, 00:13

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Why this matters

This historic merger between Paramount and Warner Bros. Discovery signifies a major consolidation within the highly competitive media and entertainment industry. It follows Netflix's recent withdrawal from a potential bid, highlighting the intense race for market share and content dominance, particularly in the streaming wars. The combined entity will create a formidable powerhouse, reshaping the landscape for content creation, distribution, and consumer choice.

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Key entities

ParamountMerging organization Warner Bros. DiscoveryMerging organization Warner Bros.Movie studio subsidiary HBOStreaming service subsidiary CNNNews network subsidiary NetflixFormer competitor

Coverage Timeline

First report: tmz · 28 Feb, 00:01|Full coverage: All 2 sources within 12m|Window: 12m

tmz28 Feb, 00:01First to report