The end of Hollywood or a brighter future? What a Paramount-owned Warner Bros. means for the movies

Paramount is set to buy Warner Bros. Discovery after Netflix dropped out of bidding, setting up another major Hollywood merger. On Thursday, Netflix said the price no longer makes financial sense. Paramount topped Netflix’s earlier offer and aims to buy the whole company. Executives say the deal will help them compete in streaming and create bigger movie and television libraries. Paramount is also targeting about $6 billion in savings through overlapping job cuts. Theater owners have warned about more consolidation under any new ownership of Warner Bros. Paramount's purchase isn't a sure thing — regulators have already started reviews, and plans for HBO Max and Paramount+ remain unclear.

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