Warner Bros may reject Paramount $108B bid, favor Netflix
Warner Bros Discovery is expected to reject Paramount Skydance’s $108.4 billion takeover offer, with the board likely advising shareholders to vote against it. The decision could come as soon as Wednesday.
By backing Netflix’s $72 billion bid for Warner Bros’ non-cable assets, the studio would recommit to a deal that secures its film and TV library, including classics like Casablanca, Citizen Kane, Harry Potter, Friends, and its HBO Max streaming service, News.Az reports, citing Reuters.
Paramount CEO David Ellison launched a $30-a-share, all-cash bid directly to shareholders, claiming a clearer regulatory path than Netflix’s offer. Paramount’s bid is financed with $41 billion in new equity, backed by the Ellison family and RedBird Capital, and $54 billion in debt commitments from Bank of America, Citi, and Apollo.
Netflix previously offered $27 per share in cash and stock for Warner Bros’ non-cable assets. Securing the deal would give the winner a major advantage in the streaming wars, locking in one of Hollywood’s most valuable content libraries.
Jared Kushner’s Affinity Partners, initially a financing partner for Paramount, is reportedly exiting the bid, Bloomberg reported. Warner Bros and Paramount declined to comment on the reports.
This move marks the latest twist in a high-stakes media acquisition battle that will reshape the competitive landscape of streaming and content ownership.
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