Paramount Skydance, whose CEO David Ellison is friendly with the Trump administration, wanted to buy WBD outright, making several bids for its full portfolio.

Paramount Skydance, whose CEO David Ellison is friendly with the Trump administration, wanted to buy WBD outright, making several bids for its full portfolio.

The acquisition, which will face regulatory scrutiny by the Trump administration, gives Netflix access to a vast film catalog and the HBO Max streaming service.