Quick Summary
- The studio collected 11 Academy Awards at the 98th Oscars ceremony, with One Battle After Another claiming Best Picture
- Michael B. Jordan secured Best Actor honors for Sinners, which garnered four total awards
- Paramount’s $81 billion acquisition of Warner Bros. Discovery was finalized last month after outbidding Netflix
- The studio division’s adjusted EBITDA surged 54% to reach $2.55 billion in the previous year
- Premarket trading showed WBD stock climbing 0.5% to $27.27; Paramount (PSKY) increased 0.2% to $9.74
Warner Bros. Discovery dominated the Academy Awards ceremony on Sunday evening, claiming an impressive 11 statuettes at the 98th annual event. The triumph arrives during a transitional period for the entertainment giant, which will soon become part of Paramount Skydance within weeks.
Warner Bros. Discovery, Inc., WBD
Paul Thomas Anderson’s One Battle After Another emerged as the evening’s biggest winner, securing six Oscars including the coveted Best Picture, Best Director, and Best Supporting Actor categories. The dystopian thriller about violent uprising in America clearly resonated with Academy members.
The studio’s Sinners added four additional awards to Warner’s tally. Michael B. Jordan claimed the Best Actor trophy for his dual performance as twin brothers, using his acceptance speech to express gratitude to Warner Bros. for “betting on original ideas and artistry.”
Amy Madigan captured Best Supporting Actress for her work in Weapons, another Warner production. The studio’s three nominated films combined to deliver all 11 victories — a remarkable showing.
David Ellison, Paramount’s CEO, finalized an agreement last month to acquire Warner Bros. Discovery in an $81 billion transaction. With financial backing from his father Larry Ellison — Oracle’s co-founder — David emerged victorious from an extended bidding competition against Netflix.
The transaction will unite two major Hollywood powerhouses. Paramount executives project $6 billion in cost reductions through the merger. Ellison has committed to producing 30 theatrical releases annually, distributed equally between both studio brands.
Strong Box Office Performance Motivated Acquisition
Warner’s theatrical division generated $2.55 billion in adjusted EBITDA during the previous year — representing a substantial 54% increase. Hit releases including Sinners, A Minecraft Movie, and Superman fueled the growth.
Through 2026 thus far, Warner’s Wuthering Heights and Paramount’s Scream 7 rank among box-office leaders. The positive trajectory continues unabated.
While Oscar victories rarely translate to immediate financial gains for studios, they frequently drive viewership increases on streaming platforms as audiences seek out award-winning content.
Competing Studios’ Oscar Performance
Netflix secured seven Academy Awards overall. Guillermo del Toro’s Frankenstein collected three trophies in hair and makeup, production design, and costume design categories. The streaming platform also won Best Animated Feature for KPop Demon Hunters.
NBCUniversal’s Focus Features division earned Best Actress recognition for Jessie Buckley’s performance in Hamnet. A24’s Marty Supreme entered with nine nominations — including Best Picture — but failed to convert any into wins.
Disney’s 20th Century Studios earned one Oscar for visual effects work on Avatar: Fire and Ash. Apple secured Best Sound.
Monday’s premarket session showed WBD stock advancing 0.5% to reach $27.27. Paramount shares rose 0.2% to $9.74.
