Quick Takeaways:
- Paramount makes a $108B hostile bid for Warner Bros. Discovery after Netflix’s competing offer.
- The deal is backed by Middle East funds, Apollo Global, and major U.S. banks.
- The takeover fight intensifies as Trump signals interest in influencing approvals.
Paramount Strikes Back After Netflix Move
Paramount has launched a hostile bid to acquire Warner Bros. Discovery (WBD) in a dramatic escalation of Hollywood’s biggest takeover battle in years. The move comes just one week after Netflix agreed to buy major WBD studio and streaming assets.
The company offered $30 per share, directly appealing to WBD shareholders after its earlier proposal was rejected by the board.
A $108B All-Cash Offer With Global Backing
Paramount’s bid is backed by major Middle East sovereign funds, Affinity Partners, and a $54 billion financing commitment from Bank of America, Citi, and Apollo Global.
The deal’s total value exceeds $108 billion, making it one of the largest media acquisition attempts in history.
Unlike Netflix’s bid, which excludes cable networks, Paramount wants to acquire the entire company, including CNN, TNT, and other channels.
Paramount CEO David Ellison said the all-cash offer “provides superior value and a faster path to completion.”
A New Corporate Battle With Political Undertones
WBD’s board has already approved the Netflix deal. Paramount’s hostile approach now shifts the fight to public markets and shareholders.
The situation has become even more complex due to U.S. President Donald Trump’s active involvement in the matter.
Trump recently warned that Netflix’s takeover could raise antitrust concerns. He added that he plans to be “involved” in the approval process, an unusual step for a sitting president in a private merger battle.
Paramount’s CEO acknowledged ongoing discussions with Trump, saying he believes the president “believes in competition.”
Hollywood on Edge as Consolidation Intensifies
The Paramount-WBD-Netflix triangle comes at a tense moment for Hollywood.
Studios face shrinking budgets, A.I. disruptions, and a collapsing cable ecosystem. The potential merger would reshape the entertainment power structure.
Paramount argues that a Netflix-WBD combination would create “unprecedented market power,” with more than 400 million streaming subscribers. Disney, by comparison, sits just under 200 million.
WBD shares rose 6% after Paramount’s announcement, while Netflix fell 1.3% and Paramount gained about 4%.
As both offers move toward regulatory review, investors now expect a prolonged and public takeover fight, one that could redefine the future of global streaming and studio consolidation.