Paramount Launches $108 Billion Hostile Bid for Warner Bros. Discovery, Challenging Netflix Deal
Paramount Skydance Corp. has ignited a high-stakes media battle with the launch of a $108.4 billion hostile takeover bid for Warner Bros. Discovery (WBD), directly contesting Netflix’s recently announced acquisition agreement.
The move, unveiled on Monday, positions Paramount—led by CEO David Ellison—against Netflix in a dramatic struggle for control of one of Hollywood’s most valuable film, television, and streaming portfolios.
Netflix struck a deal last Friday to acquire Warner Bros. Discovery in an equity transaction valued at $82.7 billion including debt, a bold attempt to expand its content library and strengthen its global streaming dominance. The agreement includes a $5.8 billion break-up fee, underscoring the magnitude and risk of the merger.
Paramount’s counteroffer, priced at $30 per share, surpasses Netflix’s $28 per share bid and raises pointed questions about the fairness and transparency of WBD’s sales process. Analysts say the higher offer could compel Warner Bros. Discovery’s board to reassess its obligations to shareholders, despite Netflix already securing a signed agreement.
If successful, the acquisition would dramatically reshape the entertainment landscape, giving Paramount control of iconic properties spanning Warner Bros. Studios, HBO, CNN, DC Films, and Discovery’s global network portfolio.
Industry watchers now expect weeks of tense negotiations, regulatory scrutiny, and potential legal battles as the two streaming giants vie for one of the most consequential media assets of the decade.
