The massive $110 billion merger between Paramount Skydance and Warner Bros. Discovery is officially moving forward, and John Oliver is already checking the exits. During the March 1, 2026, episode of Last Week Tonight, the host addressed the definitive agreement that will soon place his home network, HBO, under the control of a new corporate parent. "It turns out we might be getting a new business daddy," Oliver quipped, specifically referencing Paramount CEO David Ellison as the man now holding the keys.

The deal, which was announced on February 27, 2026, values Warner Bros. Discovery at an enterprise value of $110 billion. Under the finalized terms, Paramount will pay $31.00 per share in cash for all outstanding WBD shares. The agreement comes after a fierce bidding war with Netflix, which ultimately bowed out after refusing to match Paramount’s offer. WBD CEO David Zaslav confirmed the board had unanimously approved the Paramount bid as a "superior proposal."

Oliver’s reaction to the news was characteristically blunt. "Oh s–t, I’m in Paramount now. How the f–k do I get out of this?" the comedian asked his audience, comparing the merger to the confusion of accidentally sitting on a Roku remote. If the acquisition receives regulatory clearance, the deal is expected to close in the third quarter of 2026. The combined company would unite iconic brands like the DC Universe, Mission: Impossible, and CNN under one massive umbrella.