# Warner Bros.

*business · news · 2026-05-06 · The Hollywood Reporter*

## Key points

- Warner Bros. Discovery incurred a $2.8 billion Netflix termination fee, reimbursed by Paramount Skydance.
- WBD now has over 140 million streaming subscribers, surpassing its previous guidance.
- David Ellison’s Skydance and Paramount have a deal to acquire WBD for $111 billion.
- Warner Bros. Discovery's quarterly revenue fell, but streaming and studio revenues increased while linear TV declined.
- Paramount will inherit WBD’s net debt of just over $30 billion after acquisition.

**Companies:** Warner Bros. Discovery, Netflix, Paramount, Skydance
**Countries:** United States

[Read the full story on The Hollywood Reporter](https://www.hollywoodreporter.com/business/business-news/warner-bros-discovery-lost-3-billion-to-netflix-first-quarter-1236588213/)

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