① Data shows that global M&A transactions reached $4.3 trillion in 2025, driving investment banks... Commission levels are near all-time highs; ② The Warner Bros. acquisition may be finalized by the end of the year, potentially providing Wall Street institutions with substantial compensation; ③ JPMorgan Chase... Institutions such as Allen & Co., Evercore, Bank of America, and Citigroup participated in the Warner Bros. acquisition.
As 2025 draws to a close, data from the London Stock Exchange Group shows that global M&A deals totaling $4.3 trillion have been completed this year, pushing investment banking fees to near record highs.
But for Wall Street, another major deal awaits them this year. The Warner Bros. acquisition, which has captivated both the political and business spheres in the United States, may be finalized by the end of the year, prompting bankers to prepare for a final, frenzied push.
Last week, Paramount announced a hostile takeover bid for Warner Bros. for $108 billion, following Netflix's earlier offer of nearly $83 billion. Warner Bros. shareholders expect Paramount's hostile takeover strategy to potentially drive up the price of this year's largest deal and could bring in hundreds of millions of dollars in commissions for related banks.
Warner Bros. must indicate its preferred deal by December 22. Years of cultivated relationships may bring substantial rewards to some advisors, while others may end up with nothing.
Wall Street Dream TeamCurrently, financial firms advising Warner Bros. include Allen & Co., Evercore, and JPMorgan Chase . Boutique investment banks Centerview and M Klein & Company, as well as major investment banks Bank of America and Citigroup, work for Paramount. Moelis, who previously worked for Paramount, is now with Wells Fargo. They jointly served as consultants for Netflix.
JPMorgan Chase advised Warner Bros. on its initial spin-off plan, which aimed to separate Warner Bros. studios and its streaming business from CNN and other television assets, and provided a $17 billion bridging loan for the plan.
This collaboration also laid a solid foundation for subsequent advisory deals. After Paramount first made a takeover bid for Warner Bros. in September, JPMorgan Chase helped Warner Bros. deal with the activist investor's takeover attempt and guided the company to adjust its plans, ultimately paving the way for Warner Bros.' sale.
Moelis had previously advised David Ellison on the acquisition of Paramount, but Paramount subsequently chose Centerview as its primary advisor for the acquisition of Warner Bros., which led Moelis to eventually switch to Netflix.
Moelis is relatively small compared to other Wall Street firms involved in this deal. According to Dealogic, if it successfully helps Netflix acquire Warner Bros., this would be the third-largest deal in the investment bank's 18-year history and could very well be one of its most profitable deals ever.
In addition, Wells Fargo was deeply involved in advising Netflix and provided more than half of its $59 billion bridge loan. BNP Paribas and HSBC also participated in financing this loan.
Paramount's lineup is even more impressive . Bank of America Citigroup Both the company and private equity firm Apollo committed to providing debt financing. RedBird Advisors, one of Paramount Pictures' investors, also advised on the acquisition, with co-founder Gerry Cardinale reportedly playing a key role in the negotiations.
(Article source: CLS)
