Paramount Skydance has issued a surprise hostile offer to buy all of Warner Bros Discovery for $30 per share, valuing the company at USD $108.4 billion and positioning itself as a “superior” alternative to Netflix’s recently accepted $83 billion bid for Warner Bros’ studio and streaming assets.
Backed by the Ellison family and investors including Jared Kushner, Paramount argues its proposal offers more cash upfront and a smoother regulatory path, though both deals are expected to face heavy antitrust scrutiny.
Paramount’s move follows Netflix’s selection as the winning bidder after months of negotiations, despite analysts long speculating that a Paramount–Warner Bros merger made more strategic sense.
President Donald Trump has signalled potential concerns about Netflix’s dominance but has offered mixed messages about both bidders, while Paramount CEO David Ellison insists Netflix’s takeover would be “a horrible deal for Hollywood.” Warner Bros shares jumped on the renewed bidding drama as the high-stakes takeover battle intensified.
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