Even after Warner Bros. Discovery repeatedly turned down its offers, Paramount is still trying to acquire the company and has now filed a lawsuit to push the deal forward. Paramount also announced it plans to propose its own candidates for Warner Bros. Discovery’s board of directors at the 2026 annual meeting, potentially leading to a battle for control of the company.
Paramount’s CEO, David Ellison, announced today, January 12th, that they’ve taken Warner Bros. Discovery (WBD) to court. They’re asking the court to force WBD to reveal details of Netflix’s offer to buy the company. Paramount says WBD shareholders need this information to decide if they want to accept Paramount’s offer for their shares.
Ellison stated that Paramount requested the standard financial details that should have been shared with investors in a deal like this one. However, Ellison claims Warner Bros. Discovery didn’t reveal certain information from Netflix and didn’t share it with its own shareholders.
Ellison stated that Warner Bros. Discovery shareholders need this data to properly evaluate our offer, and that Delaware law requires companies to share this information with them.
We didn’t make these decisions easily. Let me be clear: we still want to work with Warner Bros. Discovery’s board to find a solution that benefits everyone who owns stock in the company.
Okay, so I just read Warner Bros. Discovery’s response to Paramount’s lawsuit, and basically, they’re saying Paramount is trying to change the subject with a pointless legal battle and criticizing the board that’s actually brought a ton of success to shareholders. It sounds like they think Paramount is just trying to create drama!
Warner Bros. Discovery stated that, despite several attempts, Paramount Skydance’s offer wasn’t better than their existing deal with Netflix, a conclusion reached unanimously by their board.
In a message to Warner Bros. Discovery employees, Ellison also stated that Paramount is confused why WBD didn’t respond to their offer from December 4th, and didn’t try to discuss or change any part of it.
Ellison expressed frustration that Warner Bros. Discovery seems to be choosing options that aren’t as financially beneficial for its shareholders as his company’s offer of $30 per share in cash. He believes the situation doesn’t make logical sense.
Barry Meyer, speaking directly to Warner Bros. Discovery shareholders, suggested the most beneficial solution for both companies would be for Warner Bros. Discovery’s board to begin negotiations with Paramount, despite Warner Bros. Discovery already having an agreement with Netflix.
We’re eager to work with Warner Bros. Discovery to find the best way forward for both companies and everyone involved. As we’ve shown with the WBD Board, we’re always willing to listen to feedback and find practical solutions, and we’ll continue to do so. Paramount and my family are fully committed to this process, and we hope this clarifies what happens next.
On January 7th, Warner Bros. Discovery (WBD) formally turned down Paramount’s latest offer to acquire the company, stating it wasn’t beneficial for WBD or its investors. WBD’s board reaffirmed its support for Netflix’s offer and urged shareholders to reject Paramount’s bid. Paramount’s offer included a guarantee of over $40 billion, backed by Larry Ellison, the billionaire founder of Oracle, and other incentives.
As we previously reported, Paramount offered $30 per share for all of Warner Bros. Discovery (WBD), while Netflix offered $27.75 per share for parts of the company, specifically its film, television, and gaming businesses. Although Paramount’s offer is worth significantly more overall, the final deal depends on many other considerations beyond just the price.
According to Bloomberg, both Ted Sarandos, co-CEO of Netflix, and David Ellison have had personal meetings with former US President Donald Trump. Jared Kushner’s company, Affinity Partners, was initially part of a plan to buy Warner Bros. Discovery (WBD) through a takeover of Paramount, but later withdrew from the deal.
The potential buyer of Warner Bros. Discovery could also gain control of its large gaming business, which includes many popular game franchises and development studios. However, it’s also possible that a deal won’t happen for various reasons.
Senator Elizabeth Warren of Massachusetts recently stated in a podcast interview with The Town that she believes merging media companies will harm consumers, and she would rather see no deal made than one that leads to further consolidation.
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2026-01-12 23:41