Paramount has gone hostile in its bid to acquire Warner Bros Discovery, directly challenging Netflix’s recently announced $72 billion takeover deal.
Naijaonpoint learned that the US entertainment group said on Monday that it will go directly to Warner Bros Discovery after shareholders offered $30 per share in cash for the entire company, including its Global Networks business.
The latest development comes a few days after Paramount urged shareholders to reject the agreement signed with Netflix.
Warner Bros had previously turned down the same offer in favour of Netflix’s proposal, a move that would reshape the entertainment industry in the United States.
Paramount Chairman and CEO David Ellison, in a statement, criticised the Netflix deal, saying it “exposes Warner Bros Discovery shareholders to a protracted multi-jurisdictional regulatory clearance process with an uncertain outcome, along with a complex and volatile mix of equity and cash.”
Ellison said the company had made six proposals to Warner Bros Discovery over 12 weeks, stressing that its offer is in the best interest of the creative community and will create a stronger Hollywood.
He said, “We believe our offer will create a stronger Hollywood. It is in the best interests of the creative community, consumers and the movie theatre industry.
“We believe they will benefit from the enhanced competition, higher content spend and theatrical release output, and a greater number of movies in theaters as a result of our proposed transaction.”
Netflix had on Friday, December 6, 2025, signed a deal to buy Warner Bros Discovery, the studio behind “Harry Potter” and HBO Max.
The cash-and-stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of $82.7 billion, including debt, and it is expected to close within 12 to 18 months after Warner Bros Discovery completes the separation of its cable operations. Still, Networks such as CNN and Discovery are not included in the sale.
Speaking on the development, President Donald Trump said Netflix’s agreement to buy Warner Bros Discovery “could be a problem” because of the size of the combined market share.
Trump emphasised that he will be involved in determining whether the federal government should approve the deal.
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