Paramount Skydance Launches Hostile $108.4 Billion Takeover Bid for Warner Bros Discovery
On 8 December 2025, Paramount Skydance made a direct and hostile offer to Warner Bros Discovery shareholders to acquire the entire company for $30 per share, including its traditional television networks and Global Networks segment. This bid values Warner Bros Discovery at $108.4 billion.
Paramount's offer was positioned as a superior alternative to a rival bid from Netflix, which had previously reached a takeover deal valued at about $72 billion, with an enterprise value of approximately $82.7 billion including debt, and priced at $27.75 per share. Netflix's proposal focused on acquiring Warner Bros Discovery's studio and streaming networks, including HBO.
Paramount's approach, backed by the Ellison family, emphasizes more upfront cash and a greater likelihood of regulatory approval. The company urged Warner Bros shareholders to reject Netflix's bid. Meanwhile, former US President Donald Trump noted potential competition concerns that could impact Netflix's offer.
The announcement was reported on Monday, 8 December 2025, at 14:45 UK time, marking a significant escalation in the bid for control of Warner Bros Discovery.
