Warner Bros. Discovery Confirms Receiving New Bid from Paramount

Warner Bros. Discovery (WBD) has confirmed that it received a new bid from Paramount Skydance for its assets, including HBO Max and Warner Bros. studios. This announcement comes amidst a competitive landscape in the entertainment industry, where streaming services are in high demand.

Details of the Paramount Offer

Paramount’s revised proposal is part of an ongoing negotiation process to acquire WBD. The exact financial details of this renewed bid remain undisclosed, but it is understood that Paramount is offering more than $31 per share for WBD.

• Initial Offer: $19 per share proposed in September 2025.
• Current Bid: Over $31 per share.
• Total Valuation: $108 billion for the entirety of WBD, including cable channels.

Ongoing Negotiations

WBD, which is simultaneously moving forward with an agreement to sell its streaming and studio assets to Netflix valued at nearly $83 billion, is currently evaluating Paramount’s proposal. In a statement, WBD mentioned engaging with Paramount during a recent seven-day limited waiver period, aiming to gain clarity on the bid.

The company has advised its shareholders not to take any action regarding the revised tender offer from Paramount while the board assesses the new terms. Paramount emphasized that for the deal to proceed, WBD’s Board must consider its offer a “Company Superior Proposal” compared to the existing agreement with Netflix.

Netflix’s Position

Under its current agreement with Warner, Netflix would acquire Warner Bros. studios and streaming businesses at $27.75 per share in an all-cash deal. Netflix’s co-CEO, Ted Sarandos, recently indicated that the streaming giant is prepared to walk away if Paramount’s offer surpasses its own.

Financing and Support

Paramount’s bid is financially supported by prominent investors, including:

• Larry Ellison
• RedBird Capital Partners

The financing for the proposal has also been secured from major institutions such as:

• Bank of America
• Citigroup
• Apollo Global Management
• Sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi

This latest round of bidding reflects the intense competition among major players to establish dominance in the ever-evolving streaming landscape. As negotiations progress, the actions by both Paramount and Netflix will be closely watched by industry analysts and investors alike.