NEW YORK, Feb 28 — US media conglomerate Paramount Skydance announced yesterday it will acquire Warner Bros. Discovery in a deal valuing the combined company at US$110 billion (RM428 billion), after beating Netflix in a bruising bidding war.

The agreement ends a five-month saga and creates an entertainment behemoth whose impact on a struggling media landscape — and connections to Donald Trump’s White House — will be closely scrutinized.