Overview
- Paramount made a hostile counteroffer for Warner Bros. Discovery valued at about $108 billion, or $30 per share, after the company agreed to an $82.7 billion deal with Netflix.
- In his Dec. 9 monologue, Stephen Colbert asked why The Late Show was canceled if such funds are available, noting CBS said the show loses about $40 million annually and is set to end in May 2026.
- Colbert highlighted reports that roughly $24 billion of Paramount’s offer would be financed by sovereign wealth funds in Saudi Arabia, Qatar, and Abu Dhabi.
- Critics and Colbert have suggested the cancellation may reflect political considerations tied to President Trump and merger approvals, a claim Paramount has denied while citing financial losses.
- Entertainment unions have called for antitrust scrutiny of the Netflix–WBD agreement, warning regulators that further consolidation could harm workers, theaters, and consumers.