Entertainment
Paramount Pays $2.8 Billion Netflix Breakup Fee
Paramount Skydance Corp. has paid the $2.8 billion breakup fee owed to Netflix Inc. after the streaming company dropped its planned deal to buy parts of Warner Bros. Discovery Inc., according to people familiar with the move.
Warner Bros. is expected to announce later Friday that it formally signed an agreement to be acquired by Paramount, said the people, who asked to not be identified because they weren’t authorized to speak publicly.
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