Paramount has launched an effort to acquire Warner Bros. Discovery, advertising it as a “superior alternative to the Netflix transaction.”
“The Paramount offer for the entirety of WBD provides shareholders $18 billion more in cash than the Netflix consideration,” the company said in a statement. “WBD’s Board of Directors recommendation of the Netflix transaction over Paramount’s offer is based on an illusory prospective valuation of Global Networks that is unsupported by the business fundamentals and encumbered by high levels of financial leverage assigned to the entity.”
Paramount’s proposal is an “all-cash offer at $30.00 per share, equating to an enterprise value of $108.4 billion, which represents a 139% premium to the undisturbed WBD stock price of $12.54 as of September 10, 2025.”
Chairman and CEO of Paramount, David Ellison, believes the offer will “create a stronger Hollywood.”
“It is in the best interests of the creative community, consumers and the movie theater industry,” said Ellison. “We believe they will benefit from the enhanced competition, higher content spend and theatrical release output, and a greater number of movies in theaters as a result of our proposed transaction.”
Last week, Netflix announced that it “entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO.”
President Trump said that if the Netflix deal progresses, it “could be problem” due to the market share. As reported by CNBC, Trump was asked if the deal is permissible, to which he responded, “Well, that’s the question.”
“They have a very big market share,” he noted. “And when they have Warner Brothers, you know, that share goes up a lot. So I don’t know, that’s going to be for some economists to tell. I’ll be involved in that decision, too.”
