Showbiz
Warner Bros Discovery and Paramount Skydance Clear Shareholder Vote
Over 1.7 billion votes in favor against roughly 16.3 million opposed. Warner Bros Discovery shareholders approved the $110 billion Paramount Skydance merger on April 23, and the margin was not close. Anyone running 1xbet site ROI numbers across entertainment sector positions watched WBD shares trade in a tight band near the $31 cash offer through April, the kind of price action that confirms what the wagering markets had already settled on. Paramount beat Netflix in a months-long bidding war for Warner Bros that started in late 2025, and David Ellison now sits weeks away from running the largest media conglomerate assembled since the breakup of the old studio system.
What the $110 Billion Deal Looks Like on Paper
Paramount acquires 100% of WBD in an all-cash deal backed by committed investment from the Ellison family and RedBird Capital Partners. The SEC filing from February 27 laid out the financial architecture, and the numbers below capture the key terms.
| Deal Detail | Figure |
| Price per WBD share | $31 cash |
| WBD equity value | $81 billion |
| Enterprise value | $110 billion |
| EBITDA multiple | 7.5x (synergized 2026) |
| New Paramount shares issued | $47 billion at $16.02 |
| Minimum annual theatrical releases | 30 films |
Warner Bros film studio, HBO, CNN, TBS, TNT, CBS, Nickelodeon, and both companies’ television and film libraries all end up under one roof. Paramount committed to 30 theatrical releases a year in the filing, and the streaming side is where the growth bet sits. That much content in one place gives the merged entity a licensing position nobody else in the industry can match, and it also gives every sportsbook chasing broadcast-integration deals exactly one phone number to call when they want their odds overlays sitting alongside live sports.
How the Bidding War Played Out
Netflix went after WBD first. Paramount Skydance came in over the top, and by February 26 WBD’s board called it a superior proposal, with the definitive agreement signed the next morning. They set the shareholder vote for April 23 at 10 AM. It went 1.743 billion shares in favor, 16.3 million against, and 2.37 million abstaining.
Wagering markets had the outcome priced in long before the ballots were counted. Polymarket contracts on deal completion traded heavily through March and April at implied probabilities above 75%, and the gap between WBD’s trading price and the $31 offer shrank to under a dollar heading into the meeting. Anyone holding the deal-completion side of those contracts walked into the vote with a position the markets had already validated. The question on the table was the timing of the cash, not the outcome of the vote.
Regulatory Review and What Stands Between the Vote and Completion
Antitrust regulators on both sides of the Atlantic get the file next, along with a North American competition bureau that opened its review the same day shareholders voted. Hollywood is not thrilled either. Several high-profile entertainment figures have gone public with concerns about what a combined entity this size does to creative independence and working conditions on set.
For the sports betting industry, the regulatory holdup creates an unusual planning window. Sportsbooks running broadcast-integrated products, the kind that overlay live odds on game telecasts and tie promotions to specific media properties, typically negotiate those deals broadcaster by broadcaster. A combined Paramount-WBD would shrink the negotiating universe to one entity sitting on AFC football coverage at CBS, the cable sports wing through TNT, and the streaming distribution running underneath both. That changes leverage on both sides of the table.
Specific properties make the leverage explicit. NFL AFC games and college football sit at CBS. MLB postseason and the cable sports tier live at TNT. March Madness has been split between the two networks since 2011 under a deal that runs through 2032, which means a closed merger puts the entire tournament on one combined network platform for the first time. Sportsbooks negotiating in-stream odds overlays, contextual ads, and content partnerships across those properties currently run two separate tracks for the two broadcasters. After integration, those tracks collapse into a single conversation.
Ellison’s pitch to regulators has to be that consumers benefit and competition survives in streaming, theatrical distribution, and sports broadcasting. If the deal closes, premium scripted content, live sports rights, and cable news distribution all land under one company.
What Oddsmakers and Prediction Markets Are Watching
Completion timelines for deals this size typically stretch six to twelve months past the shareholder vote. Wagering lines on the merger closing before the end of 2026 reflect a split opinion, with Polymarket traders pricing it at roughly 55%. Regulatory conditions could push the timeline into early 2027. Books pricing media-sector futures contracts beyond the close itself, including first quarterly earnings and the sports-rights renewal cycles that follow, have already started taking positions, which is the cleanest tell that the integration is being priced as something more than a paperwork formality. Contracts pricing tighter regulatory conditions, including potential divestitures or behavioral remedies, have started attracting their own volume. That is a step further out the curve than where prediction markets typically sit on M&A timelines this early in the process.
By Adedapo Adesanya
Mr Peter Okoye, professionally known as Mr P, has alleged that a proposed multi-billion Naira sale of the defunct P-Square’s music catalogue collapsed after prospective buyers uncovered irregularities during the due diligence process.
This revelation offers a fresh financial dimension to the long-running dispute that has divided Nigeria’s most successful music duos.
The singer made the allegation in a video series posted on his social media pages, where he shared his account of the events surrounding the group’s 2021 reunion and the disagreements that followed with his twin brother, Mr Paul “Rudeboy” Okoye, and their elder brother and former manager, Mr Jude “Engees” Okoye.
According to Mr P, the failed catalogue transaction occurred after the brothers publicly reunited in 2021.
He alleged that interested buyers had made offers worth billions of Naira for the rights to P-Square’s music catalogue, but the proposed deal did not proceed after issues were allegedly discovered in backend records submitted as part of the due diligence process.
As of press time, neither Rudeboy nor Mr Jude Okoye has publicly responded to the latest allegation.
Mr P’s claims add another layer to the financial disagreements that have repeatedly overshadowed the affairs of the award-winning music duo, whose catalogue includes hit songs such as Bizzy Body, Do Me, Personally, No One Like You and Chop My Money.
Beyond the alleged failed sale, the singer claimed that shortly after the brothers reconciled in 2021, he was asked by his two other brothers to sign documents aimed at reviving P-Square under a new bank account.
The music maker said he declined because he wanted to preserve the renewed family relationship rather than return to a business arrangement he believed could recreate the conflicts that had led to the group’s earlier split.
Mr P also alleged that before the reunion, both Rudeboy and Jude had disagreed over a N90 million loan. According to him, Rudeboy assured him that he would be kept informed about discussions taking place behind his back.
The singer insisted that the widely celebrated reunion in November 2021 was never intended to revive P-Square as a commercial entity. Instead, he said the brothers had only agreed to reconcile as family members while continuing their respective solo music careers and supporting each other’s work.
P-Square, formed in 1999 by Peter and Paul Okoye with Jude serving as manager, became one of Africa’s biggest music acts before publicly splitting in 2017 following years of disagreements over management, finances and creative control. Although the brothers reunited in 2021 and returned to the stage, their relationship deteriorated again, with Rudeboy later confirming that P-Square no longer existed.
The latest revelations also come against the backdrop of an ongoing criminal case involving Mr Jude Okoye.
Last year, the Economic and Financial Crimes Commission (EFCC) arraigned the former manager before the Federal High Court in Lagos on allegations involving approximately N1.38 billion, $1 million and £34,537.59 in alleged money laundering. He has since pleaded not guilty and was granted bail.
Mr P, who testified for the prosecution during the trial, said his video series is far from over and promised to continue sharing what he described as the true story behind the collapse of P-Square and the business decisions that ultimately strained the family’s relationship.
By Modupe Gbadeyanka
Popular musician, Mrs Iyun Janet Oluwatoyosi Ajilore, otherwise known as Saint Janet, has died.
The singer, known for her explicit lyrics, was said to have died in the early hours of Sunday, August 2, 2026, after a brief illness.
Her demise has thrown some of her admirers into shock. Some of her fans and colleagues have started to send their condolences.
The Highlife musician, who is also fondly called Mama Yabis, rose to fame after her controversial Faaji Plus featured lewd lyrics and was banned multiple times by regulatory bodies like PMAN and the Lagos State House of Assembly.
However, this did not stop her from performing at private events, as she was loved by some who were moved by her guts and electrifying live performances, energetic stage presence, and unique style of engaging audiences through satire, humour, and socially unfiltered commentaries.
The battle of the sexes continued in Big Brother Naija Season 11 as the gentlemen claimed victory in this week’s wager task presentation, while the ladies fell short in a debate centred on the age-old question: Nature or Nurture?
From the start of the season, Biggie split the House into two teams, with the ladies and gentlemen to compete against each other in key challenges, including wager task presentations and arena games. For this week’s wager, the teams were assigned opposing sides in a Nature versus Nurture debate, with the gentlemen arguing that inherited traits have the greatest influence on who people become, while the ladies defended the idea that people are largely shaped by their upbringing, environment and life experiences.
After both teams presented their arguments, Biggie declared the gentlemen the winners of the wager. While announcing the result, he admitted that neither team delivered an outstanding performance, noting that the House is still in its “honeymoon phase” and that he was selecting a winner based on the stronger overall presentation.
Despite his reservations, Biggie singled out Nomy, Neche, Chimsom Chuka, Cassi and Gerard for their standout contributions, praising their confidence, delivery and commitment during the task.
With one team victory secured, the rivalry between the ladies and the gentlemen continues to heat up, and the competition is only getting tougher.
But that’s not the only thing viewers have to look forward to this weekend. All eyes are now on the Saturday night party and Sunday’s live show, where the mystery surrounding The Gambit will finally be revealed. Tune in from 7:00 p.m on Africa Magic Showcase (DStv Channel 151 and GOtv channel 8) and Africa Magic Family (DStv Channel 154 and GOtv channel 7) to find out who The Gambit is and what it could mean for the game as the twists in Big Brother Naija Season 11 continue to unfold.
Keep up with all the drama, twists and surprises on DStv and GOtv, or stream the show live on DStv Stream and GOtv Stream.
