Paramount Launches $30 Per Share Bid for Warner Bros Discovery

Sat Dec 20 2025 12:20:56 GMT+0200 (Eastern European Standard Time)

In a bold move to outmaneuver Netflix, Paramount Skydance has proposed a $30 per share offer to acquire Warner Bros Discovery, presenting a superior alternative to Netflix's earlier bid.

Paramount Skydance has stepped up its efforts to acquire Warner Bros Discovery by offering shareholders $30 per share. This offer is seen as a more favorable option compared to Netflix's recent bid, as it promises greater cash upfront and potentially fewer regulatory hurdles. With competition concerns surrounding Netflix's dominance, Paramount's strategic move reflects the shifting dynamics within the media landscape. Both companies are navigating a complex bidding process, and analysts suggest that Paramount's acquisition could provide the scale necessary to compete effectively in the evolving entertainment 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 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 greater prospect of approval by regulators.

President Donald Trump has said there could be a problem with Netflix's purchase, pointing to competition concerns given the size of the companies.

The hostile bid from Paramount, a smaller player than Netflix known for CBS News, Nickelodeon, and Mission Impossible, adds a new twist to an ongoing saga that began months ago. Paramount started submitting offers to buy Warner Bros, prompting Warner Bros to open a bidding process.

On Friday, Warner Bros declared Netflix the winner of that auction, announcing a deal valuing its studio and streaming networks, including HBO, at approximately $83bn, including its debt. They also indicated that the sale would proceed following a planned spin-off of other segments of Warner Bros' business, such as CNN, into an independent entity.

Paramount's offer values the entire company at $108.4bn, which it claims is a better deal.

Mr. Ellison discussed the benefits of his plan for the media industry, expressing concerns that Netflix's acquisition of Warner Bros would centralize too much power within one company, affecting actors and other industry players. He described it as a horrible deal for Hollywood."

The proposed acquisition is expected to face scrutiny from competition regulators in both the US and Europe. Analysts predict that Netflix's plan could raise concerns regarding streaming dominance, while Paramount's proposal might review impacts on local television distributors and advertisers, considering the extensive reach of a combined company over sports and children's networks.

Shares in Warner Bros surged over 6% in trading on Monday, while Paramount's shares also saw an increase. Conversely, Netflix's stock dropped more than 3%. Netflix, which boasts over 300 million subscribers, remains optimistic about securing regulatory approval for its acquisition.

Analysts suggest that the move by Paramount is also defensive, aimed at preventing competitors from gaining access to Warner Bros' extensive content library. Observations indicate that over 70% of HBO Max subscribers in the US also subscribe to Netflix.

Overall, experts believe that Paramount may ultimately benefit from this deal more so than Netflix, which has more flexibility given its already formidable market presence.