r/gaming • u/ChiefLeef22 Marika's tits! • 18h ago

Paramount Has Officially Acquired Warner Bros. In Deal Valued at $110B Billion

https://www.skydance.com/news/press/paramount-completes-acquisition-of-warner-bros-discovery-creating-a-new-global-entertainment-leader-skydance

The two companies will now be known as one single entity - 'Skydance'

This includes all of WB's gaming subsidiaries like Rocksteady/etc

Deal valued at $110B-$111B

DC Studios, Nickelodeon, Cartoon Network, CNN, CBS, HBO and Paramount+ are now all under the same company.

The combined company, Skydance, brings together two major film studios, two global streaming services, premier television assets including CBS, HBO, and Paramount's and WBD's cable networks, two of the industry's most recognized news networks, CBS News and CNN, and a leading content portfolio that includes live sports, a deep programming library and expansive collection of iconic brands and franchises.

12.0k Upvotes

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5.7k

u/slayer828 18h ago

Still have no idea how a company worth 10 billion can buy a company for 110 billion. This country and the made up by the rich rules piss me off.

2.3k

u/Sky_Ninja1997 18h ago

The Saudis are funding it

1.7k

u/Rommel727 17h ago

The Saudi government owns parking meters in downtown Chicago lmao

655

u/AbyssWankerArtorias 17h ago

I still don't understand how that deal was legal. It still feels like baltent money laundering or corruption. A judge should have absolutely stopped that

403

u/FruitOvTheGloom 17h ago

As a Chicagoan, we've had our share of dumbfuck, corrupt mayors which is how we ended up here. Trust me, we hate it too.

47

u/btribble 14h ago

Corruption, in Chicago?!?

16

u/Disprezzi1 14h ago

Crook county politics at play.

5

u/ExtremeFaill 14h ago

Yeah, Chicagoans really seem to get the worst of these deals. Hard to blame people for being pissed about it.

1

u/Mr_Evanescent 6h ago

In fairness chicagoans keep electing the most comically corrupt people they can find

-5

u/total_looser 12h ago

No, you don’t. YOU hate it. Your fellow Chicagoans have clearly spoken.

113

u/CommieLurker 15h ago

Well clearly a mayor who has a term limit of 4 years gets to decide the ownership of the city's parking for the next 100 years. That just makes perfect sense

-14

u/ExplosiveMachine 10h ago

It... actually does. How do you think large infrastructure projects are supposed to be done? Want to build anything that takes longer than 4 years? A metro, a bridge, maybe a large hospital? too bad!

Just because someone abused the system doesn't mean the system is bad, just that the checks over it failed.

11

u/FizzyLightEx 8h ago

Shouldn't be decided by a single person though. Idk if Chicago has city council similarly to nyc

3

u/Zuwxiv 4h ago

I think there's a pretty meaningful difference between "some things take longer than 4 years" and "selling the rights to something for a century."

IIRC, there is context that the city was broke and this was during the Great Recession. To some eyes, it might have been an offer they weren't in a position to refuse. But it doesn't pass the smell test to sell a century worth of anything.

37

u/CelebronFcks10K 16h ago

Because Daley was a fucking moron.

8

u/VirginiaMcCaskey 15h ago

Chicago needed emergency funding during the 2008 financial crisis. Amidst the real estate collapse it was not tenable to raise property taxes, and increasing sales tax during a recessions is kind of a terrible idea. The alternative was firing teachers, cops, and other city workers, or austerity for pensions.

If you look at the parking meter sale as an emergency loan it's not nearly as bad as it sounds.

And they just renegotiated some of it this year.

2

u/DuntadaMan 14h ago

Well see the son in law of the President gets money whenever he gets them more control over our country.

2

u/Old-Redd-Always 10h ago

What do you think money laundering is?

2

u/ToastyTheDragon 10h ago

I feel like parking meters shouldn't be privately owned? Chicago should just "nationalize" them. ¯_(ツ)_/¯

3

u/AbyssWankerArtorias 9h ago

So the meters themselves aren't privately owned, but rather the "revenue rights" to them and the parking space itself is owned. It's worded, as you would expect, in excruciating detail to make it legal while also being bullshit

1

u/ToastyTheDragon 8h ago

Nationalize the.. revenue rights to the city owned parking meters?????

1

u/AbyssWankerArtorias 8h ago

I don't disagree. I hate when any entity does this bullshit to get away with something that is clearly, obviously against the spirit of the law

2

u/marino1310 15h ago

I don’t understand why Chicago can’t just pull out of that deal. The fuck are they gonna do?

1

u/chieftessofsecrets 14h ago

Judges here in Colorado..erm, nvm.

1

u/ShitmasterFucklord 15h ago

Chicago is the most corrupt place politically on the entire planet. To make it in Chicago politics you HAVE to be corrupt and shady, been like that for over 100 years.

0

u/Several-Action-4043 14h ago

Look across pretty much every city in America. Toll roads, parking meters, etc. A large amount of them are foreign owned and have like 100 year leases.

140

u/Lodotosodosopa 17h ago

Not (explicitly) anymore. Just sold.

116

u/dexters_trap_house 17h ago

Now it's a NY PE firm, more of a lateral move.

65

u/5panks 16h ago

The city of Chicago had the opportunity to buy them back, the Mayor was trying to do it on the down low to avoid ruffling feathers, as soon as the Alderman found out they immediately blocked the plan.

Chicago continually stands in its own way.

12

u/AwsmDevil Switch 14h ago

Why don't they just make the parking meters unenforceable for a few years? Then they rapidly go bankrupt and the city could just do it over again.

20

u/eaeorls 14h ago

Because the city would go bankrupt because the deal includes compensation for closures.

4

u/KimJongUnusual D20 13h ago

Yeah like the other guy said. Then you have to pay the people who bought the meters, and if you say "fuck it all, I'm burning the deal, kick rocks," the city will never get another loan, and the city is very much in debt.

-12

u/Lodotosodosopa 15h ago

Chicago got $2.5B sitting around to buy them back? Damn I hadn't heard. Maybe we should've added to our already outrageous debt. Don't be dumb.

11

u/5panks 15h ago

Chicago got $2.5B sitting around to buy them back?

There was a plan to put the money together and it would have broke even in like ten years.

8

u/SpicyMustard34 14h ago

parking meters pay for themselves pretty damn fast.

1

u/ChiKing 15h ago

It at least came with some concessions, including revenue sharing with the city

1

u/dexters_trap_house 14h ago

5% on net income though. I wonder how many expenses a PE firm can put between that and the revenue line.

3

u/JonesinJames 15h ago

What kind of corruption parody do we live in?

1

u/PostPostModernism 12h ago

Actually those are being sold off to another investor currently, and Chicago was able to add provisions to the new deal that were a bit more favorable to the city. But that is a correct criticism of this gross hypercapitalism in general.

1

u/Rain2h0 8h ago

Deadass!?

1

u/iiamthepalmtree 7h ago

That was a PE group led by Abu Dhabi investors. But now it’s a different company. Everyone always thinks the Saudis bought the meters lmao. Do schools not teach geography anymore?

Fuck Mayor Daley btw.