News of a merger like this first began in 2023 of course it was Warner Bros. Discovery that was sinking it's teeth into Paramount Global. Of course, several insiders had mentioned that the company's CEO David Zaslav wasn't in a negotiating mood which could as well be what's befallen Paramount.
Then again, Skydance through Oracle has the cash to swallow up Warner Bros. Discovery and this would amount to $65 billion from what sources indicate. Of course, the deal should it happen would face intensive scrutiny especially by the FCC and the European Commission.
Even if Paramount Global were to offer such a large sum there's no guarantees that Warner Bros. Discovery will accept the offer as shareholders could hold out in the hopes to get more money. At the same time with Warner Bros. Discovery being almost $40 billion in debt this would be a great escape for shareholders.
As mentioned, this deal should it be happen and get the greenlight from regulators they'll likely impose certain conditions. And I assume Paramount Global is aware of the repercussions and is likely not looking to acquire Warner Bros. Discovery to its entirety.
When Disney acquired FOX certain conditions were imposed because FOX offered a rival brand National Geographic this led to them selling their stake in Hearst Networks in Europe. Same goes for the FOX and FOX Sports network, because Disney didn't rival with these brands outside the US they were granted ownership.
Because FOX Corporation still continues to operate independently and own these trademarks, Disney had to phase out the FOX trademark from various of their assets. And if Paramount Global was able to acquire Warner Bros. Discovery we can only assume this deal will exclude a majority of Turner's Networks.
Turner's Networks would comprise of Cartoon Network, Adult Swim, Cartoonito, CNN, TNT, TBS, TNT Sports and Warner TV. If they were able to acquire these assets it may involve divesting in other assets such as Comedy Central, CBS News, Nickelodeon and Showtime.
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