The offer, unveiled Monday, includes USD 30 per share in cash and the acquisition of Warner’s cable assets—a component left out of Netflix’s proposal. Paramount claims its bid is worth USD 18 billion more and criticizes the Netflix deal as relying on “illusory prospective valuation.”
Warner Bros had previously rejected the same offer in favor of Netflix’s cash-and-stock transaction, which values the company at USD 82.7 billion, including debt. That deal, announced Friday, excludes assets like CNN and Discovery and is expected to close within 12 to 18 months.
Paramount Chairman and CEO David Ellison said the proposal would “create a stronger Hollywood” with more content spending and theatrical releases. The company had submitted six proposals over a 12-week period before launching the tender offer, which expires January 8, 2026.
President Donald Trump weighed in Sunday, saying the Netflix deal “could be a problem” due to market share concerns and that he plans to be involved in the federal approval process. Paramount’s ties to Trump have drawn attention—CEO Ellison is the son of Larry Ellison, a top Trump supporter.
In a move signaling its ideological direction, Paramount in October acquired The Free Press and appointed its founder, conservative writer Bari Weiss, as editor-in-chief of CBS News.
Shares of both Warner Bros and Paramount rose 5–6% Monday morning, while Netflix shares edged lower.
(jh)
Source: PAP, CNN, BBC