Paramount has officially launched a massive $108.4 billion counter-bid to buy Warner Bros. Is this war? The move throws the entire situation back into chaos as multiple studios now fight for control of one of Hollywood’s biggest libraries and the future of DC and HBO could shift dramatically depending on who wins. This is insanity!
Paramount Skydance has made another offer to buy Warner Bros Discovery as it seeks to trump a rival plan from Netflix to buy the company’s studio and streaming networks.
Paramount, which is backed by the billionaire Ellison family, said it was making a direct offer to shareholders of $30 (£22.50) per share to scoop up the whole of Warner Bros, including its traditional television networks. It said its proposal was a “superior alternative” to Netflix’s, delivering more cash upfront to shareholders and greater prospect of approval by regulators.
President Donald Trump has said “there could be a problem” with Netflix’s purchase, pointing to competition concerns given the size of the companies.