Paramount is pursuing a $110B, highly leveraged bid to acquire Warner Bros. Discovery, backed by tens of billions in debt and a personal equity guarantee from Larry Ellison, with significant regulatory, geopolitical, and AI-driven value-creation risks.
Paramount Skydance’s Ellison seeks to merge HBO Max and Paramount Plus after a Warner Bros. Discovery acquisition, aiming for about 200 million D2C subscribers, subject to regulatory approval.
WBD sets a seven-day window for Paramount to submit its best-and-final bid while signaling a preference for Netflix’s $82.7B deal, with Paramount indicating a $31/ share reopen price to restart talks.
Warner Bros. Discovery’s board urges shareholders to reject Paramount Skydance and accept Netflix’s $82.7 billion bid to acquire WBD’s studio and streaming arms.
Subscribe for real-time person updates and unlimited access to our intelligence platform.