Last week, Warner Bros. Discovery accepted a bid from Netflix for an $83 billion merger, sparking chaos across the entertainment industry.
On Monday, Paramount launched a hostile takeover bid for the whole company, with a deal reportedly valued at $108 billion; entertainment unions and high-profile figures have denounced the transaction amid fears of a streaming monopoly; and consumers are bracing for the potential impact on their wallets.
Industry experts told ADWEEK they believe Netflix’s WBD acquisition is far from a done deal; the transaction needs to pass regulatory approval in the U.S. and Europe, and it’s not expected to close for 12-18 months.
