Paramount agrees to buy Warner Bros. Discovery, pays Netflix $2.8 billion for breakup

Paramount Skydance and Warner Bros. Discovery are officially merging. The studio paid Netflix the $2.8 billion termination fee it was owed for breaking its original deal to buy Warner Bros. earlier today, and the historic film studio has now formally accepted Paramounts offer.Along with the deal, which values Warner Bros. Discovery at $31 per share, Paramount is making several commitments to assuage the fears of regulators and the entertainment community. Those include a guarantee that the new c...