Paramount Skydance has escalated the bidding war for Warner Bros Discovery with a hostile $108.4 billion all-cash offer, challenging Netflix’s recently announced $72 billion deal.
Paramount’s bid of $30 per share targets the entire company, including its film studios, HBO, and cable networks, backed by financing from the Ellison family, RedBird Capital, and investment funds linked to Jared Kushner and Middle Eastern governments.
The move aims to consolidate two major studios to better compete with streaming giants, arguing that the merger offers shareholders significantly more cash and greater regulatory certainty than the Netflix proposal.
The Warner Bros Discovery board has advised shareholders to take no action yet, though reports indicate concerns about Paramount’s financing structure.
Meanwhile, the political landscape is heating up, with President Donald Trump questioning the Netflix deal after a call from Larry Ellison, whose son David leads Paramount.
Critics, including Senator Elizabeth Warren, have raised antitrust concerns about the potential consolidation of major television assets and the potential for foreign influence in the deal.
Despite Netflix’s confidence in closing its transaction, Paramount’s aggressive bid ensures the battle for these prized media assets is far from over.
Key Takeaways:
- Paramount offered $30 per share in a hostile bid for Warner Bros Discovery.
- The $108 billion offer seeks to outbid Netflix’s $72 billion deal.
- The bid is facing scrutiny over its financing sources and antitrust concerns.
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