Warner Bros to Reject Paramount’s $108B Hostile Bid, Chooses Netflix Deal – Latest 30 Dec 2025

Warner Bros. Set to Reject Paramount’s Hostile $108.4B Bid, Choosing Netflix Deal Instead

In a major development in the global media industry, Warner Bros. Discovery is expected to reject Paramount Skydance’s hostile takeover bid valued at $108.4 billion as of December 30, 2025.

Paramount’s offer, which proposed $30 per share in all cash and was backed by a personal equity guarantee from a major investor, failed to convince Warner Bros.’ leadership. Despite the investor’s commitment to personally support $40.4 billion of the financing, the Warner Bros. board appears ready to oppose the proposal.

Earlier this month, Paramount launched the hostile bid, directly appealing to Warner Bros. shareholders and bypassing the company’s management, in an attempt to acquire one of Hollywood’s most iconic media giants.

However, Warner Bros. Discovery’s board of directors has consistently recommended shareholders reject Paramount’s offer. In a formal statement, the board stressed that Paramount’s proposal “is not in the best interests” of the company or its investors.

The board has instead thrown its support behind a competing cash‑and‑stock deal with Netflix, which is valued at approximately $82.7 billion. While this figure is lower than Paramount’s all-cash offer on paper, Warner Bros. advisors and analysts believe the Netflix deal offers greater certainty, better financing assurances, and fewer execution risks.

One of the key concerns cited by Warner Bros.’ board is the financing structure of Paramount’s bid. Although financial backing was intended to strengthen the offer, board members have argued that the sources of funding remain unclear and could jeopardize deal completion. Moreover, Paramount’s offer lacks the same level of binding commitments that the Netflix merger provides.

In their statement to shareholders, Warner Bros. directors noted that Paramount’s offer obliges Warner Bros. Discovery to pay a breakup fee of around $2.8 billion if the company abandons its existing Netflix agreement, a risk the board deems unnecessary given the Netflix deal’s solid structure.

Industry analysts say this showdown reflects deeper strategic differences between the companies. While Paramount aims to expand its reach and content portfolio through an ambitious acquisition, Warner Bros. leaders appear to view the Netflix integration as more compatible with long‑term growth in streaming and entertainment.

The final decision will ultimately rest with Warner Bros. shareholders. Still, with the board’s firm opposition to Paramount’s hostile bid and clear preference for Netflix’s proposal, it is widely expected that Paramount’s offer will be rejected when votes are cast in early 2026.

This corporate battle marks one of the most high‑stakes mergers and acquisitions in Hollywood history, with far‑reaching implications for the future of content creation, streaming wars, and global media dominance.