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Paramount officially announces Warner Bros. Discovery takeover

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  • Read the memo Paramount Skydance CEO David Ellison sent about the Warner Bros. Discovery merger.
  • The companies made it official on Friday with an announcement.
  • Netflix, which was also vying for WBD, declined to raise its bid for the company on Thursday.

Paramount Skydance and Warner Bros. Discovery have made it official, and CEO David Ellison sent a memo out to staff about the merger.

Paramount said in an official announcement on Friday that it had entered into a definitive merger agreement with Warner Bros. Discovery, giving the David Ellison-run media firm valuable assets such as HBO, CNN, and DC Studios.

Netflix, which was also vying for WBD, declined to raise its bid for the company on Thursday, effectively walking away from its offer to acquire Warner Bros. Discovery’s streaming and studio assets.

Paramount made multiple offers for all of Warner Bros. Discovery, including its film studio, HBO, and cable networks such as CNN, rather than the slimmer asset package Netflix had pursued. WBD accepted its revised $31-per-share offer that Netflix declined to counter.

Politics may have played a role in the bidding war. President Donald Trump publicly expressed disapproval of Netflix’s bid, and Republican lawmakers sharply criticized the company at a recent congressional hearing, accusing it of promoting “woke” programming. Trump had also demanded that Netflix fire a board member.

Investor sentiment compounded those headwinds. Netflix shareholders had been signaling discomfort with the scale and risk of the acquisition for weeks, dragging down the stock. Shares rebounded sharply once it became clear that Paramount’s bid was gaining momentum.

Read the memo Ellison sent:

Team,
Today we announced that Paramount has entered into a definitive agreement to acquire Warner Bros. Discovery. You can read the full details in our press release here.
I want to begin by thanking each of you for your patience, resilience, and commitment throughout this process. It has not been easy. Shortly after launching the new Paramount in August, we announced our plans to pursue this transaction. The months since have required a lot of hard work and resolve as together we have navigated the complexities and uncertainties that come with a deal of this scale.
That perseverance has brought us to this exciting moment.
By uniting two iconic studios, complementary streaming platforms, established cable and linear networks, expanding international businesses, world-class intellectual property, and the extraordinary talent behind all of this, we have a rare opportunity to help shape the future of our industry. Together, we can build a more dynamic, more competitive and more creatively ambitious company — one that better serves storytellers, entertains audiences around the world, and delivers long-term value for shareholders.
From day one, our vision has been clear: to build the next-generation global media and entertainment company. Acquiring WBD meaningfully accelerates that ambition. It expands our reach and enhances our ability to create the world’s most compelling stories and experiences.
While we have signed a definitive agreement, the transaction remains subject to customary closing conditions, including regulatory approvals and WBD shareholder approval, with a vote expected in the early spring of 2026. Until closing, Paramount and WBD will continue to operate as separate companies.
I know you will have questions about what this means for our company and for you and your teams. And as I said on Day 1, you have my commitment that we will be as direct as possible and share important updates as they become available.
Thank you again for your patience throughout this process and for your continued dedication. I am confident that, together, we will seize this incredible opportunity and build something truly extraordinary.
Let’s go!
David




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Wix says US employees ‘will remain hybrid’ as the Israel-based company announces 5-day office return

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Wix is asking employees in three countries to come back to the office. US workers will remain hybrid, though, Business Insider has confirmed.

Nir Zohar, president of the Israeli website management company, told employees in an email Wednesday that “Wix is moving to a full office work week” and impacted workers must come back to the office five days a week starting February 1.

The return-to-office mandate applies to workers in Tel Aviv and Beersheba, Israel; Kraków, Poland; and Vilnius, Lithuania. Ukrainian employees will continue working remotely “from wherever is safest,” Zohar wrote in the email, which he posted to X and LinkedIn.

A Wix spokesperson confirmed to Business Insider that all US employees “will remain hybrid.” The company declined to elaborate on why American workers are excluded from the RTO policy.

“Customer Care and the rest of the global teams will have direct communication with local leadership about how this change will affect them,” Zohar emailed his employees.

Zohar framed the return-to-office push as essential for collaboration and innovation, echoing arguments made by other CEOs — like AT&T’s John Stankey and Starbucks’ Brian Niccol — rolling back remote work.

“The unique energy in the office, the quick chats, the unplanned ideas, the feeling of being around each other — it all makes a real difference in how fast things move, how much easier it is to solve problems and how much more connected we feel,” he wrote. “Working together also means challenging each other, encouraging creativity and innovation.”

Wix was initially planning its in-office mandate for the Tel Aviv office in October 2023, but put those plans on hold due to the Israel-Hamas war, Zohar said in the email.

In November, the company reported having 5,344 staffers globally.

Zohar emphasized that Wix would remain flexible for personal circumstances like sick children or family emergencies, saying managers would work with employees on a case-by-case basis.

Wix, which launched in 2006, services more than 200 million users from 10 global corporate offices, according to its website.

The company’s stock jumped 1.4 percent after the RTO announcement. It’s 53 percent in the red in the past year, including a 37 percent loss in the past six months.

Read Wix president Nir Zohar’s email to employees below

Hi everyone,
I want to share an update about how we’ll be working as we head into 2026.
Wix has always been about working side by side, collaborating and building a culture of personal as well as team growth.
The unique energy in the office, the quick chats, the unplanned ideas, the feeling of being around each other — it all makes a real difference in how fast things move, how much easier it is to solve problems and how much more connected we feel. Working together also means challenging each other, encouraging creativity and innovation.
Historically, Covid and lack of office space in Israel pushed us to WFH and then to hybrid mode.
We actually originally planned to move back to full WFO in Israel a few months after we made the full move to the Campus in October 2023, but for obvious reasons decided to hold off.
Now we think it is finally the right time to go back to a full work week at the office.
To give the Campus and different site ops teams time to prepare, we’ll start this on February 1, 2026. This change will be effective for Israel (TLV & BY), Kraków and Vilnius teams.
Our teams in Ukraine will continue working from wherever is safest and works for them best.
Customer Care and the rest of the global teams will have direct communication with local leadership about how this change will affect them.
This will take into account each site’s specific constraints, regulations and needs, so everyone receives clear and relevant information about what working from the office will look like for them.
I want to point out something very important:
Long before 2020, COVID, and the WFH era, Wix has always been a very flexible work place.
This will NOT change. However, this flexibility isn’t about everyone taking a day at home; rather, it’s based on personal needs and managers’ attentiveness to their people’s needs. Some people who live very far from the office may need different considerations. Others may go through specific periods that require more flexibility on where to work from, and for all of us “life happens” every now and then. Kids get sick, family may require attention, and unexpected things come up.
Managers will keep working with you to ensure you have what you need. If something personal comes up, talk to your manager or HR. We’ll handle it together, the same way we always have.
Wix has always been at its best when we’re around each other — learning, building, laughing, solving things, creating things.
I’m really looking forward to bringing that energy back into the office every day.
Nir




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