Paramount has escalated its challenge to Netflix’s planned acquisition of Warner Bros. Discovery by making a hostile all-cash takeover bid valued at $108.4 billion, offering $30 per share. The proposal seeks to gain control through shareholder approval rather than management consent, directly competing with Netflix’s earlier agreement.
Also Read: Paramount Makes $108.4 Billion Bid For Warner Bros. Discovery, Tops Netflix Offer
According to media reports, Warner Bros. Discovery’s board is expected to advise shareholders to reject Paramount’s offer, favouring the previously negotiated Netflix deal instead. Paramount’s bid had initially targeted the entire Warner Bros. Discovery portfolio, including cable networks and studio operations, offering a higher all-cash return, but a key financing partner, Jared Kushner’s Affinity Partners, has withdrawn support, complicating the takeover attempt.
Netflix has reaffirmed its commitment to its $82.7 billion acquisition of Warner Bros. Discovery’s film and streaming assets, structured as a combination of cash and stock, and remains subject to shareholder and regulatory approval. Analysts suggest the outcome could significantly reshape the media and streaming landscape, as a Netflix-WBD combination would consolidate streaming content, while a Paramount-led acquisition would unify broadcast, cable, and studio assets. Both deals continue to face intense antitrust scrutiny due to their scale and potential impact on competition.
