Paramount debt to reach $79 billion following WBD acquisition
Paramount agreed to acquire WBD for $110 billion, or $31 per share, after Netflix chose not to increase its bid
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Published: Mar 3, 2026 8:10 AM | 1 min read
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Paramount and Warner Bros. Discovery (WBD) are set to merge, creating a media giant with an estimated $79 billion in net debt, according to media reports. The companies said they have no plans to sell their cable networks.
The deal will combine Paramount+ and HBO Max into a single streaming service, giving the new company more than 200 million subscribers across 100 markets. Paramount CEO David Ellison said the move strengthens their ability to compete with Netflix.
Read On: Ted Sarandos on exiting WBD deal: We definitely wanted this asset, didn’t need it
Paramount agreed to acquire WBD for $110 billion, or $31 per share, after Netflix chose not to increase its bid. The merger is expected to cut over $6 billion in costs, mostly by combining technology and cloud operations, according to Paramount’s strategy chief Andy Gordon.
The combined network portfolio will include CBS, MTV, Comedy Central, BET, CNN, TNT and Food Network. The deal is supported by $54 billion in debt financing, covering both new borrowing and WBD’s existing obligations.
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