Tuesday, October 6, 2026
Paramount bought Warner Bros. Harry Potter included.
Paramount Skydance closed its $110bn takeover of Warner Bros Discovery on Tuesday. The new company, Skydance, owns HBO, CBS, CNN, Nickelodeon, DC Studios and Harry Potter. About a dozen states sued to block it and settled: at least 30 films a year. Forrester’s Mike Proulx says a combined HBO Max and Paramount+ will cost more.
A company called Paramount just bought Warner Bros, the company that makes the Harry Potter movies. Now one company owns Nickelodeon and Harry Potter together, like two toy boxes tipped into one big box. Your shows don’t go anywhere. They just have a new owner.
Why it worksA six-year-old reasons from what is in front of them, so the script hands them Nickelodeon and Harry Potter, two things they can picture, and two toy boxes tipped into one. The $110bn and the lawsuits stay out. Expect “will my show stop?” No. The same shows, with a new owner’s name at the start.
- “Will my shows go away?”
- No. Same shows, same channels. A different company owns them now.
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Paramount paid $110bn for Warner Bros, so one company now owns HBO Max and Paramount+, CNN and CBS, and Harry Potter. About a dozen states sued, saying one owner would raise prices. They settled on a rule: at least 30 films a year. A referee adding a rule mid-game.
Why it worksThis age is working out rules and who applies them, and the settlement is a rule added mid-game: the deal goes ahead, but 30 films a year or Paramount sells its stake in Miramax. The referee who lets play continue on a condition is one they know. Expect “who checks they make 30?” The states that sued, for five years.
- “Why did the states try to stop it?”
- Higher prices, they said. They settled once Paramount agreed to rules.
- “Will streaming cost more?”
- Forrester’s Mike Proulx says one combined service will cost more.
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Who decides if a company is too big? States sued to block Paramount’s $110bn Warner Bros deal, then settled for promises: 30 films a year and a news board for CNN and CBS. Second: Paramount’s owner hosted a dinner for Trump this year. Does a board he appoints protect the news?
Why it worksA teenager can hold two true things at once: the states got a settlement, and the board meant to protect CNN and CBS is appointed by the company it checks. Seth Stern of the Freedom of the Press Foundation calls it worthless. Expect “so can the owner change the news?” He says not. The board is his to appoint.
- “Who decides if a company is too big?”
- Courts and regulators. A dozen states sued, then settled: 30 films a year.
- “Can the owner change what CNN reports?”
- He says it stays, with a board to watch it. He appoints the board.
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Based on the headline: Paramount bought Warner Bros. Harry Potter included.