#warner bros

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. Back in December, Warner Bros had agreed to sell parts of its film and streaming business to Netflix in a deal worth about $82 billion (PHP 4.6 trillion), including debt. The company also agreed to shoulder billions of dollars in potential fees if the deal falls through, making its proposal more attractive to Warner Bros shareholders. Netflix has agreed to acquire Warner Bros.’ film studio, HBO/HBO Max streaming, and other assets from Warner Bros. The transaction covers Warner Bros.’ movie and TV studio, HBO and HBO Max, and Warner Bros. As proof of concept test, Microsoft and Warner Bros. Read more in our articles including "Paramount Wins Warner Bros over as Netflix Walks Away from Mega Deal" and "Netflix to buy Warner Bros worth $82.7B".