The Acquistion of Paramount Global by Microsoft

== Changes ==
* Paramount Global will become a subsidiary of Microsoft
* Microsoft will rename Paramount Global to ParamountFox after acquiring Lucasfilm, Freeform and the assets of 21st Century Fox from Disney.
* Microsoft will acquire Fox Corporation from Murdoch family (except for Fox Broadcasting Company, Fox Television Stations, MyNetworkTV, Fox Sports, Fox News Channel and Tubi that will be owned by Sony, and the rights to Gumby franchise that will be sold to NBCUniversal) and will rename 20th Century Studios back to 20th Century Fox, Searchlight Pictures back to Fox Searchlight Pictures, Freeform to Fox Channel, Star Channels in Latin America back to Fox.
* Microsoft via ParamountFox will buy ITV plc, STV Group, Fremantle, Hasbro, Sega, TV Ashai, THQNordic, CHF Entertainment, Boulder Media, Locksmith Animation, Boat Rocker Media, and Entertainment One
** Microsoft via ParamountFox will fold ITV America into Paramount Television
* Fox 2000 Pictures, and Blue Sky Studios will be revived by Microsoft via ParamountFox
* Microsoft via ParamountFox will sell Channel 5 to Alphabet via NBCUniversal.
* Primary distribution rights to the Pre-2011 DreamWorks Pictures Library (With some Exceptions) will be sold to Universal Pictures.
*Primary distribution rights to The Grinch Who Stole Christmas (2000), The Cat in The Hat (2003), The Lorax (2012), The Grinch (2018), all of ITC's Associated Film Distribution Films and international distribution rights to Jay and Silent Bob Reboot (2019) will be acquired from Universal Pictures.
* Primary distribution rights to Saban Entertainment's Shows (With some Exceptions), Alpha Teens on Machines, Transformers: Robots in Disguise (2001) (English Dub Only), Bunny Town, PJ Masks, PB&J Otter, Stanley (2001 Series), JoJo's Circus, Doug Seasons 5-7, Doug's 1st Movie, 50/50 Heroes, Pikwik Pack, Twitches, Twitches Too, Slacker Cats, The Proud Family, The Proud Family: Louder and Prouder, the Fox Kids Library, the Jetix Library, the Disney XD Library (With some Exceptions). Clerks: The Animated Series, 20th Century Fox film and Television library, Fox Searchlight Pictures library, Strange Magic, and the Star Wars Sequel Trilogy will be acquired from Disney.
* Primary distribution rights to, Dexter's Laboratory, Samurai Jack, Grim and Evil, The Grim Adventures of Billy and Mandy, Evil Con Carnie, Star Wars: The Clone Wars (2003 Series), Terminator 3: Rise of the Machines (2003), Foster's Home for Imaginary Friends, the 2005-2014 Cartoon Network/Adult Swim Library, the WB-Produced CBS Shows (With some Exceptions), Terminator: The Sarah Connor Chronicles, Terminator Salvation (2009), Regular Show: The Movie, Ben 10 (2016), OK K.O! Let's Be Heroes, Steven Universe Future, the Amazing World of Gumball Franchise, The Heroic Quest of the Valiant Prince Ivandoe, Elliot from Earth and the Foster's Home for Imaginary Friends Reboot will be acquired from Warner Bros.
* Primary distribution rights to Rabbids Invasion, The Three Stooges (2012), Assassin's Creed (2016) and The Peanuts Movie (2015 Movie) will be Sold to Sony Pictures
*Primary distribution rights to the DIC Sonic Cartoons and International Distribution rights to The Adventures of Tintin (2011), Terminator Salvation (2009) and Terminator 3: Rise of the Machines (2003) will be acquired from Sony Pictures.
* Primary distribution rights to Clerks III (2022 Movie), Power Rangers (2017 Movie) and My Little Pony: The Movie (2017 Movie) will be acquired from Lionsgate.
* Primary distribution rights to The Terminator (1984) and Terminator 2: Judgment Day (1991) will be acquired from StudioCanal.
* Primary distribution rights to Wow Wow Wubbzy!, X-Men Film Franchise, Borat (2006), Marmaduke (2010), international distribution rights to Dirty Dancing: Havana Nights (2004), Tomb Raider Film Franchise and The Wiggles Movie (1997) will be Sold to Disney.
* Primary distribution rights to Thumbelina, A Troll in Central Park, Digimon: The Movie and the Japanese Co-distribution and Asian Distribution Rights of Dragon Ball Z: Battle of Gods, Dragon Ball Z: Resurrection 'F', and Dragon Ball Super: Broly will be Sold to Warner Bros.
* Microsoft via ParamountFox will acquire Gracie Films.
** Primary distribution rights to I'll Do Anything, Bottle Rocket, Jerry Maguire, As Good as It Gets, Riding in Cars with Boys, Spanglish, and How Do You Know will be acquired from Sony Pictures.
* Microsoft via ParamountFox will acquire Bagdasarian Productions.
** Primary distribution rights to The Chipmunk Adventure will be acquired from The Samuel Goldwyn Company.