Archive · 18 Dec 2025
Warner Bros. Rejects Paramount's Bid
Warner Bros.
Discovery is telling its shareholders not to accept a takeover offer from Paramount.
Instead, they prefer a deal with Netflix.
Warner Bros.
thinks the Netflix deal is better because it gives more value and is less risky.
Paramount has offered $30 per share, but Warner Bros.
says Netflix's offer of $27.75 per share plus Netflix stock and a stake in a new company is better.
Paramount's offer is worth $108.4 billion, while Netflix's is worth $82.7 billion.
Warner Bros.
also has to pay a $2.8 billion breakup fee to Netflix if they choose Paramount.
Some shareholders want both companies to compete more, but Warner Bros.
thinks Netflix is the better choice.
Paramount's offer includes money from the Ellison family and Middle East funds, but Warner Bros.
is worried about the financing.
Jared Kushner’s investment firm, Affinity Partners, has dropped out of the Paramount bid.
Warner Bros. Discovery advises shareholders to reject Paramount's hostile takeover bid in favor of Netflix's offer.
Paramount's offer is $30 per share, while Netflix's offer is $27.75 per share plus Netflix stock and a stake in a new company.
Warner Bros. believes the Netflix deal offers superior terms and value, while Paramount's offer is deemed inferior and risky.
Paramount's bid is valued at $108.4 billion, while Netflix's bid is valued at $82.7 billion.
Warner Bros. has to pay a $2.8 billion breakup fee to Netflix if they choose Paramount.
- Who
- Warner Bros. Discovery Inc., Paramount Skydance Corp., Netflix Inc.
- What
- Warner Bros. Discovery advising shareholders to reject Paramount's hostile takeover bid in favor of Netflix's offer.
- When
- Recent events, with Warner Bros. issuing a statement on Wednesday, December 17.
- Where
- United States, involving Warner Bros. Discovery, Paramount, and Netflix.
- Why
- Warner Bros. believes the Netflix deal offers superior terms and value, while Paramount's offer is deemed inferior and risky.
Paramount's Perspective
Warner Bros.' Perspective
Bid Superiority
Paramount's Perspective
Paramount believes its offer of $30 per share is superior and will provide better value and strategic benefits for Warner Bros. shareholders.
Warner Bros.' Perspective
Warner Bros. considers the Netflix deal superior, offering $27.75 per share in cash and Netflix stock, along with a stake in the new cable networks company, and deems Paramount's offer inferior and risky.
Regulatory Approval
Paramount's Perspective
Paramount insists it has the best chance of getting its deal approved by regulators.
Warner Bros.' Perspective
Warner Bros. believes both Paramount and Netflix are on equal footing in terms of regulatory approval.
Bid Process
Paramount's Perspective
David Ellison, Paramount’s CEO, has criticized the bidding process, accusing Warner Bros. of unfairly favoring Netflix.
Warner Bros.' Perspective
Warner Bros. paints the Ellisons as aggressive and disorganized, citing their failure to address concerns and meet deadlines.
- Warner Bros. Offer from Paramount
- $30 per share in cash
- Warner Bros. Offer from Netflix
- $27.75 per share in cash and Netflix stock, plus a stake in the new cable networks company
- Paramount Bid Value (including debt)
- $108.4 billion
- Netflix Bid Value (including debt)
- $82.7 billion
- Breakup Fee to Netflix
- $2.8 billion
- Paramount Financing
- $11.8 billion from the Ellison family, $24 billion from Middle East sovereign wealth funds, and additional financing from RedBird Capital Partners
- Affinity Partners
- Jared Kushner’s investment firm withdrew from the Paramount bid process
Sources
Trump Slams Paramount Over CBS Coverage as Warner Battle Looms
Donald Trump Complains That ‘60 Minutes’ Has “Treated Me Far Worse” Since David Ellison “Takeover” Of CBS And Paramount
Jared Kushner’s Affinity Partners Drops Out Of Paramount Bid For Warner Bros. Discovery
Warner Bros likely to reject $108.4 bn Paramount bid as Jared Kushner pulls out
Warner Bros Discovery to reject Paramount's $108 billion bid? Netflix may emerge winner of mega deal — What we know
Is Warner Bros planning to reject Paramount's $108.4 billion hostile bid? Here's what new report says
Warner Bros. Discovery board likely to recommend rejection of Paramount offer - Telegraph India
Warner Bros rejects Paramount’s $108 billion hostile bid
Warner Bros. Discovery urges shareholders to reject ‘Inferior’ Paramount bid
