Paramount Skydance Stole The Show With Its Warner Bros. Discovery Purchase

2026-03-04 12:51:37 ET

Last week, something happened that I was not expecting to happen. Back in early December of 2025, when news was circulating that Warner Bros. Discovery ( WBD ) was getting close to choosing a buyer for its operations, I predicted that it was all but certain that Netflix ( NFLX ) would prevail. The other two leading bidders at that time were none other than Comcast Corporation ( CMCSA ) and Paramount Skydance ( PSKY ). But for different reasons, I viewed a combination involving those prospects as unlikely. In particular, I remember that while Paramount Skydance would strategically make the most sense because of its intention to absorb all of Warner Bros. Discovery, its ability to make a transaction of that size happen looked limited. By comparison, Netflix was a much more logical choice based on financial capability alone. After all, such a purchase, though certainly still large, would have been entirely achievable by the streaming giant....

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