US EditionWarner Bros. Discovery Officially Rejects Paramount’s Revised Offer, Stands by Netflix Deal
Warner Bros. Discovery's board rejected Paramount Skydance's bid due to high debt risks and costs, confirming Netflix's $82.7 billion deal as providing greater shareholder value.
- On Wednesday, Warner Bros. Discovery's board rejected Paramount's $108.4 billion bid, reaffirming support for Netflix, with Di Piazza stating, `The Board unanimously determined that Paramount’s latest offer remains inferior to our merger agreement with Netflix across multiple key areas.`
- The board argued the offer hinges on an extraordinary $87 billion of pro forma debt and a $40.4 billion personal guarantee from Larry Ellison amid risky LBO financing.
- On the economics, WBD noted abandoning the Netflix deal would cost about $4.7 billion, while Netflix’s offer values WBD at $27.75 per share and has a $400 billion market cap.
- Shareholders face a Jan. 21 tender deadline to sell to Paramount, while the rejection keeps Warner on track with Netflix amid likely DOJ and international regulatory scrutiny.
- Paramount's scale mismatch means its $14 billion market cap acquisition requiring $94.65 billion financing threatens WBD's planned Discovery Global spinoff and pressures the Ellison family.
333 Articles
333 Articles
Why Netflix Stock Lost 12.9% In December 2025
Key PointsWarner Bros. Discovery's board supports the Netflix offer and has rejected a larger competing bid from Paramount Skydance.Investors appear uneasy with all three possible outcomes: a successful deal, a hostile takeover by Paramount Skydance, or regulatory failure.Netflix's stock now trades 30% below its June 2025 all-time high, potentially creating a buying opportunity for long-term investors.10 stocks we like better than Netflix › Shar…
Paramount Stands Firm On Takeover Offer Amid WBD-Netflix Clash
Paramount Global said Thursday it will not raise its $30 per share takeover bid for Warner Bros. Discovery, pushing back after WBD rejected the offer as inadequate. Paramount said its proposal offers greater value than WBD’s existing agreement to sell Warner Bros. and HBO assets to Netflix, a deal that excludes cable networks such as CNN. WBD’s board has argued the Netflix transaction provides more certainty and less risk for shareholders, compa…
Paramount reiterates its offer for Warner Bros. is better than Netflix deal
Paramount Skydance reiterated that its US$108.4 billion bid for Warner Bros Discovery was superior to rival Netflix on Thursday, adding that the value of the cable spinoff central to the Netflix offer is effectively worthless
PARAMOUNT REAFFIRMS COMMITMENT TO DELIVERING SUPERIOR $30 PER SHARE ALL-CASH OFFER TO WARNER BROS. DISCOVERY SHAREHOLDERS
/PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") notes Warner Bros. Discovery, Inc.'s (NASDAQ: WBD) ("WBD") decision not to engage...
How media consolidation is narrowing America’s cultural debate
Netflix’s attempt to acquire Warner Bros. Discovery has set off alarms about market power and cultural reach. However, the real issue isn’t this single merger; it’s the extent to which American media has consolidated so dramatically that a small circle of companies now exercises unprecedented control over cultural production and distribution.
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