Hostile takeover launched over Netflix-Warner deal with new $108B Paramount bid after Sarandos woos Trump at White House
Paramount launches hostile bid for Warner Bros after losing to Netflix
- Paramount has launched a hostile bid for Warner Bros. in a direct challenge to Netflix’s plan to buy the media giant for $72 billion.
- Paramount, which was locked in a months-long bidding war for Warner Bros., said Monday that it will offer $30 per share in cash directly to Warner Bros. Discovery shareholders.
- The twist comes after Netflix said Friday that it sealed a deal to buy Warner Bros. by offering $27.75 per share, which will see each WBD shareholder receive $23.25 in cash and $4.50 in shares of Netflix common stock.
- On Sunday, President Donald Trump expressed concerns that the proposed Netflix-Warner Bros. Discovery merger “could be a problem” and said he’d be involved in the government’s decision whether to approve the deal.
- If approved, the merger would combine two major streaming services and Warner's film and television divisions with Netflix's extensive library.