Paramount bids $108.4B for Warner Bros Discovery, challenging Netflix deal

Paramount has launched a hostile all-cash bid of $30 per share to acquire Warner Bros. Discovery (WBD), directly challenging a prior agreement between WBD and Netflix.

This move initiates a fierce competition between Paramount, led by David Ellison, and streaming giant Netflix for control of the historic Warner Bros. studio.

Netflix had previously announced a deal to acquire Warner Bros., sparking concerns within Hollywood about the future of the industry.

Former President Donald Trump expressed reservations about Netflix's acquisition, citing potential market dominance issues.

Trump stated he would be "involved" in the government's decision to approve the deal over fair competition concerns, rather than leaving it solely to the DOJ or FTC.

Paramount's offer includes not only the studio but also cable channels like CNN, TNT, TBS, and Discovery, valuing WBD at $108.4 billion.