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Warner Bros. Discovery Rejects Paramount's Hostile Takeover Bid Again

KVIA•Wednesday, January 7, 2026 at 12:39 PM•CNN Newsource

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Warner Bros. Discovery's board has once again dismissed Paramount's revised hostile takeover offer, favoring an existing agreement with Netflix. The board deemed Paramount's proposal inadequate and excessively risky, highlighting that it would involve over $50 billion in debt. Paramount's CEO, David Ellison, previously initiated the bidding war for WBD, which includes assets like CNN. Despite Paramount's assurances regarding financing, the board remains unconvinced about the offer's viability. Paramount must now decide whether to withdraw, increase its bid, or seek a shareholder vote, while WBD's upcoming spin-off, Discovery Global, is expected to hold significant value.

Key Details: • Paramount's offer remains at $30 per share, unchanged from previous proposals. • WBD's board believes the risks associated with Paramount's financing are too high. • Discovery Global, a new publicly traded company, will separate from WBD's cable assets by the end of the year. • Paramount must decide its next steps regarding the takeover bid soon.

media paramount warner-bros netflix takeover

People & Organizations

ParamountDavid EllisonLarry EllisonWarner Bros. DiscoveryNetflixDavid Zaslav

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