Paramount Offers Competing Bid for Warner Bros Discovery Amid Netflix Deal

Tue Dec 09 2025 13:23:25 GMT+0200 (Eastern European Standard Time)

Paramount Skydance has unveiled a direct offer to acquire Warner Bros Discovery, aiming to outbid Netflix's recent proposal. The move intensifies the competition in the entertainment industry as both companies strive for dominance.

In a significant move within the entertainment sector, Paramount Skydance has made a bid to acquire Warner Bros Discovery, offering shareholders $30 per share to surpass Netflix's offer. The company claims its proposal is more advantageous, promising immediate cash and a smoother regulatory process. Amidst this bidding war, both Paramount and Netflix face scrutiny from competition regulators, as their consolidations could reshape the landscape of the streaming and traditional media industries.

Paramount Skydance has made another offer to buy Warner Bros Discovery as it seeks to trump a rival plan from Netflix to acquire the company's studio and streaming networks.

Paramount, which is backed by the billionaire Ellison family, has proposed a direct offer to shareholders of $30 (£22.50) per share for Warner Bros, including its traditional television networks.

The company asserts that its proposal is a superior alternative to Netflix's, offering more cash up front for shareholders and a greater likelihood of receiving regulatory approval.

Donald Trump has expressed concerns regarding Netflix's purchase, suggesting that there could be issues due to competition among such significant corporations.

Paramount is smaller than Netflix, known for brands like CBS News and Nickelodeon, but analysts believe a merger could create a robust contender against major players like Netflix and Disney.

Warner Bros had previously indicated Netflix was the front-runner after announcing an $83 billion deal last Friday. Paramount’s offer is valued at $108.4 billion, allegedly providing a better deal for shareholders.

Paramount's deal proposal has garnered attention, particularly due to its connections with Trump's administration, which might compromise regulatory scrutiny.

Amid this backdrop, shares in Warner Bros rose over 4% following the news, while Paramount's shares surged by 9% and Netflix saw a decline of more than 3%.

Both proposals are expected to face intense examination from competition regulators in the U.S. and Europe, with implications for the future of advertising and local television distribution in media.