Paramount Skydance Launches $108 Billion Hostile Bid for Warner Bros. Discovery, Challenging Netflix’s Megadeal and Rewriting the Streaming Wars
Paramount Skydance launched a $108.4 billion all-cash hostile bid for Warner Bros. Discovery on December 8, 2025, offering $30 per share and aiming to block Netflix’s pending acquisition. The offer, backed by Ellison family equity and $54 billion in committed debt, tops Netflix’s $27.75 per share deal. Paramount’s bid covers all WBD assets, with the tender offer expiring January 8, 2026.