Paramount goes hostile in its bid for Warner Bros Discovery

Paramount launched a hostile $74.4 billion bid for Warner Bros Discovery on December 8, 2025, challenging Netflix's existing $72 billion takeover deal. Paramount is offering $30 per share in cash directly to Warner Bros shareholders, along with the purchase of Warner Bros' cable assets, an element absent from the Netflix offer. Paramount claims its offer is $18 billion higher than Netflix's, criticizing the latter's valuation of the cable assets and the regulatory hurdles involved. Paramount believes its offer would create a stronger Hollywood with increased competition and content spending. Netflix's deal, valued at $82.7 billion including debt, excludes networks like CNN and Discovery and is expected to close in 12-18 months.

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