Story · Paramount
What to know about the landmark Warner Bros. Discovery sale
The article details the high-stakes bidding war for Warner Bros. Discovery (WBD), which began in October 2025 when WBD explored a sale due to debt and declining cable viewership. Netflix initially offered $82.7 billion for WBD's studios and streaming assets, but Paramount, led by David Ellison with backing from his father Larry Ellison, won with an $111 billion bid for all WBD assets including HBO, CNN, and HGTV. The U.S. Department of Justice approved the deal in June 2026, but a federal judge paused it on July 20, 2026, following a lawsuit by 12 state attorneys general filed on July 13. The article breaks down the timeline, key players, and potential next steps in this landmark media merger.
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