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A group of streaming subscribers has filed a lawsuit seeking to block the proposed $110 billion merger involving Paramount, Skydance, and Warner Bros., alleging potential harm to consumers.
US media giant Paramount-Skydance has announced an agreement to acquire fellow company Warner Bros. Discovery, winning a bidding war against Netflix.
Warner Bros. Discovery shareholders have approved a proposed $111 billion merger with Paramount and Skydance Media, though the deal still faces regulatory review. This approval occurred despite significant opposition to CEO David Zaslav's associated payout.
Netflix has reportedly withdrawn from the bidding war to acquire Warner Bros. Discovery after Paramount-Skydance's revised offer was deemed superior, with Netflix declining to raise its bid.
ITV top brass said that Paramount and WBD are back in business as commissioners after agreeing their merger deal. Paramount-Skydance has been busy battling Netflix for Warner Bros.