Paramount's Bold Move: Competing Bid for Warner Bros Discovery

Tue Dec 09 2025 11:57:09 GMT+0200 (Eastern European Standard Time)

Paramount Skydance has unveiled a new offer to acquire Warner Bros Discovery, challenging Netflix's competing bid. The corporate battleground reflects shifting dynamics in the entertainment industry, with implications for shareholders and regulators.

Paramount Skydance has launched a rival bid to acquire Warner Bros Discovery, offering shareholders $30 per share to outmaneuver Netflix’s offer. The proposal aims to provide a better deal and potentially smoother regulatory approval. In a landscape where competition is keen, key stakeholders are weighing the implications for both companies and the industry at large.

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 (£22.50) 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 a greater prospect of approval by regulators.

President Donald Trump has noted a potential issue with Netflix's acquisition plans, citing concerns over competition given the sizable nature of both companies involved.

Paramount is a smaller player compared to Netflix, known for brands such as CBS News, Nickelodeon, and the Mission Impossible franchise. It initiated its offers several months ago, which prompted Warner Bros to open a formal bidding process.

Analysts have suggested that a merger between Paramount and Warner Bros could enhance competitive scale against rivals like Netflix and Disney.

Paramount's ambitions are bolstered by its connections to influential figures, including Trump and tech billionaire Larry Ellison, which could facilitate regulatory approvals.

However, Warner Bros announced a deal with Netflix that valued the studio and streaming networks at approximately $83 billion (£62.3 billion), including its debts.

Paramount's latest offer, valuing Warner Bros at $108.4 billion, has positioned it as a strong competitor, with plans reportedly involving Jared Kushner as a financial partner.

While Netflix executives have expressed confidence in surpassing Paramount's bid, Warner Bros has yet to change its recommendation, promising a response within 10 business days.

Both proposed acquisitions are anticipated to face scrutiny from regulatory bodies in the U.S. and Europe, analyzing the implications for market competition and advertising, especially given the influence of a combined company in sports and children's programming.

Trump's previous remarks forecasted his involvement in the merger approval process, highlighting concerns about Netflix's position while at once praising its executive leadership.

Meanwhile, industry stakeholders continue to assess the broader ramifications of these competing bids, which include potential shifts in market dynamics and operational strategies.