NEW YORK (AP) â HBO Max, “Harry Potter” and CNN may soon find themselves under a new roof: Paramount.
That's because shareholders of Warner Bros. Discovery approved an $81 billion sale of the company on Thursday. Including debt, the proposed buyout valued at nearly $111 billion based on Warner's current outstanding shares.
READ MORE: Warner Bros shareholders approve Paramount's $81 billion takeover of the Hollywood giant
While the deal still faces regulatory review, the megamerger would vastly reshape Hollywood and the wider media landscape, further consolidating power in an industry already run by just a handful of major players. Paramount itself was acquired by Skydance just last year.
Here's what a Paramount-Warner combo could mean for streaming, movies, news and more.
Streaming
Paramount Skydance would own both Paramount+ and, with the sale approved by shareholders Thursday, Warner's HBO Max. Company executives have said that they would combine these streamers into one platform.
What that combined service would look like (or be named) is unclear. But Paramount CEO David Ellison suggested that HBO could still have some level of independence, at least production-wise.
“Our view point is, HBO should stay HBO,” Ellison said during a conference call last month. “They built a phenomenal brand, they are a leader in this space and we just want them to continue doing more of it. But by bringing the platforms together, all of our content will be able to reach even a broader audience than we can do standalone.”
Warner and its HBO streaming platform have a powerful lineup that includes “The Pitt,” “Game of Thrones” and “Sex and the City.” And beyond “Harry Potter,” Warner's library lists blockbuster films such as “Sinners,” “Barbie” and “Superman” (the company also owns DC Studios). Titles like “Top Gun,” “Titanic,” “The Godfather” and “Yellowstone” fill Paramount's catalog.
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