#Paramount Global

Paramount is set to acquire Warner Bros. Warner Bros, which put itself up for sale last year, said Paramount’s updated offer was "superior" to Netflix’s proposal. If completed, the deal would give Paramount control of Warner Bros’ film studios, streaming platforms, and major TV networks, including HBO Max and CNN, in what could have been one of the biggest shakeups in the global entertainment industry. However, Paramount later submitted a competing offer. This week, Paramount raised its bid to $31 per share in cash, increasing its total offer and strengthening its position. Netflix executives said the deal was something they would pursue only at the “right price,” and ultimately decided not to match Paramount’s improved offer. Paramount will also need approval from U.S. What this means for viewers If approved, Paramount would gain control of HBO Max and absorb its subscribers into its portfolio. Read more in our articles including "Paramount Wins Warner Bros over as Netflix Walks Away from Mega Deal" and "BPI restores app and online banking services after outage".