Warner Bros. Discovery has turned down the latest offer from Paramount to acquire the company. They stated the offer wasn’t beneficial enough for Warner Bros. Discovery and its owners. Additionally, the offer doesn’t meet the criteria to be considered better than the existing agreement with Netflix, which was announced last December.
Following Warner Bros. Discovery’s agreement with Netflix, Paramount made an unsolicited offer directly to Warner Bros. Discovery shareholders, attempting to acquire the company. They later increased their offer, backed by a $40.4 billion commitment from Larry Ellison, but Warner Bros. Discovery shareholders ultimately turned it down.
On January 7th, Warner Bros. Discovery’s board announced they still advise shareholders to accept Netflix’s offer and decline the one from Paramount.
As we previously reported, Paramount offered $30 per share to buy all of Warner Bros. Discovery (WBD), while Netflix offered $27.75 per share for parts of the company, like its movies, TV shows, and games. Although Paramount’s offer is worth significantly more overall, the final deal involves many other considerations beyond just the price.
According to Warner Bros. Discovery board chair Samuel A. Di Piazza Jr., the offer from Paramount still doesn’t offer enough value. He specifically cited a large amount of debt involved in the deal, which could make it difficult to finalize, and a lack of safeguards for Warner Bros. Discovery shareholders if the deal falls through.
He argued that Warner Bros. Discovery’s agreement with Netflix is a better deal because it’s more reliable and avoids the potential downsides and expenses that Paramount’s offer would bring to investors.
Netflix is once more attempting to purchase the majority of Warner Bros. Discovery’s properties, but not everything. In contrast, Paramount was interested in buying the entire company.
Netflix’s Ted Sarandos and Paramount’s David Ellison have both had personal meetings with former President Donald Trump. Additionally, Trump’s son-in-law, Jared Kushner, was initially part of a plan by his firm, Affinity Partners, to acquire Warner Bros. Discovery (WBD), but later withdrew from the deal.
The potential purchase of Warner Bros. Discovery – increasingly expected to be by Netflix – could also include its significant gaming business, with many popular game franchises and development studios. However, it’s also possible that this deal won’t happen for various reasons.
Senator Elizabeth Warren of Massachusetts recently explained her concerns that increasing media consolidation will harm consumers, stating she’d rather see any proposed deal fall through than move forward.
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2026-01-07 17:10