YOUTUBE (The Hill) - Warner Bros. Discovery approves Paramount takeover to create mega-company | 12:30 REPORT
The Warner Bros. Discovery board just voted to sell its entire company to Paramount Skydance, ending a monthslong battle with Netflix. Netflix withdrew its bid in February after declining to raise its offer to match Paramount. Warner Bros. Discovery includes CNN, HBO Max, etc. The approval paves the way for a new mega-company that would provide one of the biggest sources of live sports, entertainment and news. Is this final?: Well, the multi-billion-dollar deal will first need to win approval from President Trump’s Department of Justice. And there are some potential regulatory challenges. Keep in mind that Paramount is owned by Larry and David Ellison, who are allies of President Trump. Timing: Warner Bros. Discovery expects the deal to…