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Despite Warner Bros accepting an $82.7 billion offer from Netflix, Paramount is going to the film studio’s shareholders to get the deal reversed.
HBO Max will now be owned by Netflix if the deal meets regulatory and Warner Bros shareholders’ approval
Alongside Apple TV, Paramount was known to be one of the bidders trying to buy the venerable Warner Bros studios and its extensive library. On December 5, 2025, though, Warner Bros announced that the deal had been done and that Netflix would be its new owner.
The deal was — and remains — subject to regulatory approval. There were immediate doubts over that approval as President Trump said that the deal “could be a problem.”
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