Warner Bros Expected to Reject Paramount’s Hostile $108 Billion Bid

In the latest shake-up of the Hollywood power game, Warner Bros Discovery is expected to reject Paramount’s aggressive $108.4 billion hostile takeover bid, sources close to the matter revealed despite billionaire Larry Ellison’s personal guarantee backing the offer.

According to a person familiar with the board’s private deliberations, Warner Bros is leaning toward a rival bid from Netflix, which, while valued at $82.7 billion, is seen as a safer, cleaner deal with clearer financing and fewer regulatory hurdles. The board is expected to meet next week to finalize its decision.

“The revised offer isn’t sufficient,” said Harris Oakmark, Warner Bros’ fifth-largest shareholder. The investment group holds nearly 96 million shares and has indicated it does not support the Paramount bid.

The Ellison-backed offer has failed to sway Warner Bros leadership for several key reasons:

• No increase in the original $30-per-share all-cash offer, despite the hostile nature of the bid.

• Regulatory uncertainty, especially given the size of a potential Paramount-Warner merger, which would surpass Disney in market power.

• Warner Bros would owe $2.8 billion in breakup fees if it walks away from its current agreement with Netflix.

Paramount has attempted to paint its offer as more “market-proof” than Netflix’s, citing the streaming giant’s stock-based deal structure, which fluctuates with market volatility. But Wall Street isn’t buying it. Analysts say Netflix’s bid is cleaner and less risky, particularly from a regulatory standpoint a critical factor in today’s political climate.

The White House is also watching. President Donald Trump has said he plans to review the media consolidation situation personally, signaling a potential shake-up in antitrust policy under a second Trump administration. Lawmakers from both sides of the aisle have raised alarms over growing media monopolies, with concerns about censorship, political bias, and loss of journalistic independence gaining traction.

The irony? Paramount’s offer, if accepted, would create a new super-studio with even more concentrated power than Disney and that’s exactly what the media elites supposedly claim to oppose.

Meanwhile, Netflix’s offer, though smaller on paper, may give Warner Bros more flexibility and fewer entanglements, especially as both companies explore streaming dominance in a post-cable world. The market has rewarded Netflix’s clarity, even as traditional players like Paramount continue to stumble.

For Warner Bros, this isn’t just about money it’s about survival in a media landscape saturated with debt-ridden legacy players and bloated bureaucracies. Aligning with Netflix could offer a lifeline, not just a payday.

Stay tuned the board's final decision could reshape the future of entertainment, media, and political influence in America.

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