Warner Bros. Discovery Expected to Reject Paramount’s $108.4 Billion Bid
Board leans toward Netflix’s $82.7 billion cash‑plus‑stock alternative due to perceived financing certainty.
Overview
- Reports from CNBC and Reuters indicate the revised Paramount Skydance offer will likely be turned down despite Larry Ellison’s personal guarantee.
- Paramount extended its offer deadline and raised its regulatory reverse breakup fee but kept the cash consideration at $30 per share.
- The Netflix proposal is viewed by analysts as lower risk with clearer financing and includes a $2.8 billion termination fee if Warner backs out.
- Warner’s board is expected to meet next week to finalize its position on the competing bids.
- Harris Oakmark, a major shareholder, called Paramount’s revisions insufficient, while lawmakers and President Donald Trump signaled plans for scrutiny of further media consolidation.