Warner Bros. Discovery agrees to $110 billion Paramount merger

Warner Bros. Discovery and Paramount Skydance's merger agreement is now official. On Friday, the two companies announced plans to merge into a massive media company that will fold WBD's studio, linear channels, streaming service, and gaming segment into Paramount.

Though WBD initially signed onto an $83 billion agreement to merge part of Warner Bros. with Netflix, Paramount persisted with a hostile takeover bid, followed by a series of offers. That persistence paid off, as WBD determined...