Catenaa, Tuesday, December 16, 2025- Paramount Skydance has launched a hostile all-cash offer for Warner Bros. Discovery, aiming to buy the entire company after Netflix’s bid for only its Studios and Streaming segment was accepted.
Paramount’s proposal of $30 per share surpasses Netflix’s $27.75 per share offer and is directed straight to WBD shareholders, bypassing the company’s board.
The bid covers both the Streaming & Studios division, which includes Warner Bros.
Motion Picture Group and HBO, and the Global Networks segment, home to CNN, TNT Sports, and Discovery. Paramount claims its offer provides more value, regulatory certainty, and a faster path to completion.
The company highlighted that the WBD board’s preferred Netflix deal combines cash and stock, carries uncertain trading prospects for its Global Networks unit, and may face complex regulatory approval.
Earlier this year, WBD announced plans to split into two distinct companies. Netflix’s offer focuses solely on the Studios and Streaming unit, which holds most of WBD’s perceived value, while Paramount includes the Global Networks segment.
Paramount executives are now appealing directly to shareholders to consider the full offer.
Regulatory concerns remain for both bids, as Netflix’s acquisition of a rival streaming platform could trigger antitrust scrutiny.
Paramount’s own ownership of CBS and a streaming service may also draw attention, particularly regarding the concentration of major news outlets under one company.
WBD has acknowledged receipt of Paramount’s unsolicited bid but has not confirmed if shareholders will be allowed to act on it immediately.
Paramount seeks to outbid Netflix and gain shareholder approval for a complete acquisition of Warner Bros. Discovery.
