Centerview and RedBird Helped Paramount in Winning Warner Bid

Paramount Skydance Corp.’s winning $111 billion bid for Warner Bros. Discovery Inc. is a coup for the half-dozen advisory firms that helped technology heir David Ellison top Netflix Inc.

Centerview Partners and RedBird Advisors were lead advisers to Paramount, with Bank of America Corp., Citigroup Inc., M. Klein & Co. —- the advisory firm led by Michael Klein — and LionTree also acting as advisers.

Deal advisory credit is immensely important on Wall Street and it isn’t just about bragging rights. Boards tend to be inclined to go with firms with the strongest track record and ...