ClosedPublished 8 Dec 2025

Paramount /
Warner Bros.

Paramount makes a cash offer for Warner Bros.

Buy side: Paramount
Buy sideParamount
Target: Warner Bros.
TargetWarner Bros.
Paramount Skydance Corporation · 8 Dec 2025Source
Buy side: Paramount
Buy sideParamount
Target: Warner Bros.
TargetWarner Bros.
01 / BuyerParamount
02 / TargetWarner Bros.
Source for the buyer and target: Paramount Skydance Corporation

For the buyer and target.

“Paramount/Warner Bros. Merger Agreement Condition —Warner Bros. shall have entered into a definitive merger agreement with Paramount and the Purchaser substantially in the form of the merger agreement submitted by Paramount to Warner Bros. on December 4, 2025 and attached to the Offer to Purchase as part of Annex A (the “ Paramount/Warner Bros. Merger Agreement ”), other than changes required to reflect completion of the Offer followed by a second-step merger under Section 251(h) of the DGCL and any other changes mutually agreed between Warner Bros. and Paramount.”

Published 8 Dec 2025

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01

What happened

Paramount is seeking control of Warner Bros. and ultimately its entire equity interest. Its offer is for $30 per share. [01]

02

The source

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01
Source · Paramount Skydance Corporation

Paramount makes a cash offer for Warner Bros.

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03

Timeline

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  1. Published by Paramount Skydance Corporation

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