Paramount enters the ring with a $108 billion bid for Warner Bros. Discovery
Paramount Skydance has made an all-cash takeover bid to acquire Warner Bros. Discovery (WBD). According to insiders, the high-risk offer, publicly valued at $108 billion, is specifically intended to halt WBD's ongoing negotiations with other interested parties. Just last week, Netflix itself submitted a $72 billion offer for WBD.
Bidding on a media empire
The Paramount offer, which essentially matches the terms of a December 4 bid to the WBD board of directors, calls for the purchase of all outstanding shares at $30 per share, thus directly challenging Netflix's bid. The key point is that the takeover is comprehensive and targets WBD's entire, widely diversified media empire – from film studios and streaming platforms to its lucrative cable TV portfolio with major channels such as CNN, TBS, and TNT.