Warner Bros Board Poised to Reject Paramount’s $108B Bid in Favor of Netflix Deal

Warner Bros Discovery's board is expected to formally reject Paramount Skydance's $108.4 billion all-cash offer as early as Wednesday, according to sources familiar with the matter. The $30-per-share bid faces likely opposition due to concerns over regulatory hurdles and perceived inferior value compared to Netflix's existing $27 cash-and-stock proposal.

The decision underscores Warner Bros' strategic preference for Netflix's deal structure, which includes acquisition of non-cable assets like the Harry Potter franchise and Friends content library. Jared Kushner's Affinity Partners has withdrawn support for Paramount's bid, further weakening its position.

Market analysts note the rejected bid represents another twist in the ongoing consolidation of media assets, with streaming platforms aggressively pursuing content libraries. Paramount maintains its offer WOULD face smoother regulatory approval, though Warner Bros appears committed to the Netflix agreement's terms.