Warner Bros Discovery Board Rejects Paramount’s $108B Bid as Netflix Enters Fray
Warner Bros Discovery's board prepares to reject Paramount's $108 billion takeover offer, triggering a 2.73% stock drop. The decision, expected by December 17, leaves shareholders weighing competing visions for the media giant's future.
Netflix's $72 billion counterbid targets Warner's crown jewels—film studios, HBO, and streaming assets—while excluding the soon-to-spin-off Discovery Global division. This carve-up approach contrasts sharply with Paramount's all-in acquisition strategy.
Regulatory hurdles loom over both deals, with antitrust scrutiny likely to delay any resolution. The bidding war underscores streaming's valuation paradox: legacy content libraries command premium prices despite shrinking linear TV margins.