Key Highlights
- Warner Bros. Discovery claimed 11 Academy Awards at the 98th Oscars ceremony, with One Battle After Another earning Best Picture honors
- Michael B. Jordan received Best Actor recognition for Sinners, which collected four total awards
- Paramount finalized an agreement to acquire Warner Bros. Discovery for $81 billion last month, outbidding Netflix
- The studio division’s adjusted EBITDA climbed 54% to reach $2.55 billion in the previous year
- Shares of WBD advanced 0.5% to $27.27 during premarket hours; Paramount (PSKY) increased 0.2% to $9.74
Warner Bros. Discovery achieved Hollywood’s biggest triumph Sunday evening, securing 11 Academy Awards at the 98th Oscar ceremony. The victory arrives during a transitional period, as the studio prepares for integration into Paramount Skydance within weeks.
Warner Bros. Discovery, Inc., WBD
Paul Thomas Anderson’s One Battle After Another dominated the evening with six statuettes, securing Best Picture, Best Director, and Best Supporting Actor. The film depicts violent rebellion in a dystopian American landscape, resonating strongly with Academy voters.
Sinners contributed four additional awards to Warner’s tally. Michael B. Jordan earned Best Actor for portraying twin brothers, dedicating his acceptance speech to thanking Warner Bros. for “betting on original ideas and artistry.”
Amy Madigan secured Best Supporting Actress for Weapons, adding another Warner release to the winner’s circle. Three productions yielded 11 victories in total.
Paramount CEO David Ellison finalized an agreement last month to acquire Warner Bros. Discovery in an $81 billion transaction. Larry Ellison’s son, supported by his father who co-founded Oracle, prevailed over Netflix following an extended competitive bidding process.
The merger would unite two major Hollywood studios under one banner. Paramount anticipates extracting $6 billion in operational efficiencies from the combination. Ellison committed to distributing 30 theatrical releases annually, balanced between both studio brands.
Studio Performance Justified Acquisition Price
Warner’s studio operations delivered adjusted EBITDA of $2.55 billion during the previous year, representing a 54% increase. Sinners, A Minecraft Movie, and Superman powered the financial gains.
Through 2026, Warner’s Wuthering Heights and Paramount’s Scream 7 rank among leading box-office performers. Commercial success continues building.
Academy Award victories rarely generate immediate financial returns for studios, though they frequently boost streaming platform viewership as audiences seek out celebrated titles.
Additional Studio Results
Netflix captured seven Oscar wins. Guillermo del Toro’s Frankenstein collected three awards spanning hair and makeup, production design, and costume design categories. The streaming platform also earned Best Animated Feature for KPop Demon Hunters.
NBCUniversal’s Focus Features division won Best Actress through Jessie Buckley’s performance in Hamnet. A24’s Marty Supreme entered with nine nominations, including Best Picture consideration, yet left without awards.
Disney’s 20th Century Studios earned one Oscar for visual effects work on Avatar: Fire and Ash. Apple secured Best Sound.
WBD shares rose 0.5% to $27.27 during Monday premarket sessions. Paramount stock increased 0.2% to $9.74.
