Nexstar Media Group Acquires 75% Ownership Interest in The CW Network, LLC

Netflix to Acquire Warner Bros. Discovery in $82.7B Deal

December 5, 2025

Media & Entertainment

Netflix has announced plans to acquire Warner Bros. Discovery in a transformative transaction valued at $82.7 billion in enterprise value. The deal was amended to shift to a $27.75-per-share all-cash structure, while Discovery Global is expected to be separated and excluded from the Netflix transaction before closing.

Nexstar Media Group Acquires TEGNA for $6.2 Billion

August 19, 2025

Media & Entertainment

Nexstar Media Group entered into a definitive agreement to acquire all outstanding shares of TEGNA Inc. for $22.00 per share in a cash transaction valued at approximately $6.2 billion, including TEGNA’s net debt and estimated fees. The deal is expected to close in the second half of 2026 (later confirmed closed in March 2026 after FCC and DOJ approvals), creating a larger local broadcast and digital news operator.

AT&T Spinoff and Merger of WarnerMedia with Discovery to Form Warner Bros. Discovery

April 8, 2022

Media & Entertainment

AT&T determined to spin off its interest in WarnerMedia to its shareholders, followed by the merger of WarnerMedia with Discovery in an all-stock Reverse Morris Trust transaction. The deal was expected to close in the second quarter of 2022, creating a standalone global entertainment and streaming company, Warner Bros. Discovery (WBD).

Paramount Skydance Launches $30/Share All-Cash Tender Offer to Acquire Warner Bros. Discovery

February 27, 2026

Media & Entertainment

Paramount Skydance has commenced an unsolicited all-cash tender offer to acquire all outstanding shares of Warner Bros. Discovery for $30.00 per share. WBD’s board later determined that Paramount Skydance’s revised $31.00-per-share proposal is a “Company Superior Proposal” under its merger agreement with Netflix, triggering a four-business-day match period for Netflix’s deal terms.

ViacomCBS Networks International Acquires Chilevisión from WarnerMedia

September 30, 2021

Media & Entertainment

ViacomCBS Networks International (VCNI), a division of ViacomCBS Inc., has completed the acquisition of Chilevisión from WarnerMedia/AT&T. The deal includes Chilevisión's free-to-air television network, content library and production capabilities and is intended to expand VCNI's Spanish-language studio, streaming and linear presence in the region; financial terms were not disclosed.

Affiliates of Apollo Global Management Acquire Majority Stake in Cox Media Group

December 17, 2019

Media & Entertainment

Affiliates of Apollo Global Management completed the acquisition of a majority interest in Cox Media Group from Cox Enterprises, with Cox retaining a minority stake. The deal transfers ownership of CMG’s television and radio stations, Ohio newspapers, CoxReps and Gamut digital/OTT advertising businesses to the Apollo-backed company, which will continue to operate as Cox Media Group headquartered in Atlanta, Georgia.