The board of Warner Bros Discovery is likely to reject the large takeover offer from Paramount and Skydance very soon.
Reuters reports that the board may announce its decision as soon as Wednesday, and is likely to advise shareholders to reject Paramount’s $108.4 billion offer.
If the company’s leaders agree, Warner Bros Discovery will likely proceed with the original agreement Netflix made to acquire the company. This would mark yet another significant shift in the ongoing competition to buy the business, which has been closely followed by the entertainment and financial industries.
The potential reward is enormous. Warner Bros Discovery has a massive and incredibly valuable library of movies and TV shows, featuring timeless classics like “Casablanca” and “Citizen Kane”, as well as popular modern franchises like “Harry Potter” and “Friends”. They also own HBO and its streaming platform, HBO Max.
Let me tell you, the outcome of this battle is huge for the future of streaming. Whoever comes out on top instantly becomes a major player. Everyone’s been eyeing this company’s incredible collection of films and series for ages – it’s the kind of content streamers need to attract and keep subscribers, and it’s become a key piece in this ongoing war for content dominance.
Earlier this month, Netflix seemed poised to acquire parts of Warner Bros Discovery for $27 billion in a deal involving both cash and stock. However, Paramount’s CEO, David Ellison, then made a competing offer that changed things. Ellison went straight to Warner Bros Discovery’s shareholders with a proposal to buy the entire company for $30 per share in cash.
Paramount claims its offer to acquire the remaining stake in Tubi is stronger than Netflix’s and would be more easily approved by regulators. They state their bid includes $41 billion in new investment from the Ellison family and RedBird Capital, plus $54 billion in committed financing from Bank of America, Citi, and Apollo.
According to Bloomberg, Jared Kushner’s firm, Affinity Partners, is withdrawing its financial support from Paramount. This could put Paramount in a weaker position as its board members decide whether to approve the deal.
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2025-12-17 12:15