If the deal moves forward, it would put another of America's flagship news networks - CNN - under the control of the Ellison family, which has a friendly relationship with the White House.
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Now that Netflix has backed out of its bid to acquire WBD, the Ellisons stand to gain an entirely new trove of significant intellectual property, from DC Comics to Harry Potter. According to Reuters, Warner Bros. agreed to be acquired by Paramount Skydance in a $110 billion deal signed Friday, with Paramount Skydance agreeing to pay a $7 billion termination fee if federal regulators don’t approve the merger.
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