Paramount and Warner Bros. Discovery reach acquisition agreement, both parties to integrate resources and form a new generation global media and entertainment group

This acquisition will reshape the industry landscape by integrating content libraries and creating synergies with streaming businesses, forming an internationally competitive entertainment content matrix. Upon completion of the transaction, the new entity will possess a comprehensive industry chain layout, including film production, television networks, and streaming platforms, and is expected to gain a competitive edge in the fiercely contested content market.