Paramount Competes with Netflix in Warner Bros Discovery Bidding War

Sat Dec 20 2025 10:47:18 GMT+0200 (Eastern European Standard Time)

In an aggressive move, Paramount Skydance has placed a direct bid to acquire Warner Bros Discovery, offering $30 per share in response to Netflix's previous proposal, intensifying the competition in the media landscape.

Paramount Skydance has launched a competing bid for Warner Bros Discovery, offering $30 per share, which they claim provides shareholders with more immediate cash compared to Netflix's offer. Warner Bros has yet to change its recommendation, following Netflix's initial announcement of a deal valued at approximately $83 billion.

In an unexpected twist within the entertainment sector, Paramount Skydance has intensified the bidding war over Warner Bros Discovery. Distinguishing its offer from that of Netflix, Paramount has offered shareholders $30 (£22.50) per share for the entire Warner Bros, including its suite of traditional television networks.

The billionaire-backed Paramount claims its proposal is a superior alternative by offering more cash upfront, alongside improved chances of regulatory approval. The stakes have escalated after President Donald Trump hinted at potential regulatory hurdles concerning Netflix’s acquisition.

While Warner Bros had declared Netflix the frontrunner in an auction valued at about $83 billion, including debts, Paramount's $108.4 billion valuation suggests it believes it can outmaneuver its competitor in securing the deal.

The situation has garnered significant attention due to the political implications, particularly the relationship between Trump and the Ellison family, which is expected to ease any regulatory concerns stemming from the acquisition of significant media assets.

Paramount has expressed confidence that combining with Warner Bros would enhance its competitive positioning against giants like Netflix and Disney. However, Netflix's executives remain unfazed, asserting their plans are solid and devoid of drastic cuts.

As the bidding heats up, Wall Street analysts predict both offerings will face close examination from competition regulators, making each company's approach critical in determining the outcome.

In the immediate wake of these developments, shares of Warner Bros rose by over 4%, while Paramount saw a jump of 9%, contrasting with a drop of more than 3% for Netflix.