Paramount's Ambitious Bid to Acquire Warner Bros Discovery Amid Rival Offer

Tue Dec 09 2025 12:40:46 GMT+0200 (Eastern European Standard Time)

Paramount Skydance has made a compelling offer of $30 per share to acquire Warner Bros Discovery, aiming to outbid Netflix's plans.

Paramount Skydance has stepped up its game by proposing a direct offer of $30 per share to acquire Warner Bros Discovery, presenting it as a superior alternative to Netflix's bid. The offer values the entire company at $108.4 billion, as Paramount aims to consolidate its position in the competitive media landscape. Warner Bros has indicated it will review this offer while previously announcing Netflix as the leader in the bidding process. The deal is predicted to face scrutiny from regulators concerning competition in the industry.

Paramount Skydance has made another offer to buy Warner Bros Discovery as it seeks to trump a rival plan from Netflix to buy the company's studio and streaming networks.

Paramount, which is backed by the billionaire Ellison family, said it was making a direct offer to shareholders of $30 (£22.50) per share to scoop up the whole of Warner Bros, including its traditional television networks.

It said its proposal was a superior alternative to Netflix's, delivering more cash upfront to shareholders and a greater prospect of regulatory approval.

Paramount is a smaller player than Netflix that is known for brands such as CBS News, Nickelodeon, and Mission Impossible.

It started submitting offers a few months ago, prompting Warner Bros, owner of HBO and classics from Looney Tunes to Harry Potter, to open a formal bidding process.

Wall Street analysts have long believed that a Paramount-Warner Bros combination makes sense, as it would give the company the scale needed to compete against larger rivals like Netflix and Disney.

Warner Bros recently declared Netflix the winner of the auction, announcing a deal that valued its studio and streaming networks, including HBO, at about $83 billion (£62.3 billion), including its debt.

Paramount's offer values the entire company at $108.4 billion, which it claims is a better deal. Trump's son-in-law, Jared Kushner, is among the financial partners Paramount is working with as part of the deal.

Netflix executives have expressed confidence in their plans, dismissing Paramount's attempt as entirely expected. Warner Bros indicated it would review Paramount's offer but currently is not changing its recommendation and will respond within 10 business days.

Either takeover is expected to face scrutiny from competition regulators in the US and Europe. Analysts noted that Netflix's proposal may raise concerns about streaming dominance, while Paramount's plan would prompt a review over impacts on advertisers and local television distributors.

Despite the competition concerns surrounding the deal, Paramount's plans are under intense scrutiny given the potential impact on the news business and Trump's connections with the Ellison family.