Paramount completes $110 billion Warner Bros Discovery takeover
Paramount has completed its $110 billion acquisition of Warner Bros Discovery, placing Batman, Superman, Harry Potter, Game of Thrones, Friends and The Matrix alongside Paramount Pictures, CBS and Paramount+. The combined company carries about $79 billion in net debt and targets over $6 billion in annual cost savings, Reuters reported. Under a settlement with US states, it must release 156 films over five years. A CVL Economics report estimates the merger could eliminate about 4,500 jobs.