Paramount Skydance Raises Bid for Warner Bros. Discovery Above $30 Per Share
Paramount Skydance has escalated its pursuit of Warner Bros. Discovery with a revised bid exceeding $31 per share, surpassing Netflix's $27.75 offer for select assets. The all-cash proposal, backed by Oracle's Larry Ellison and sovereign wealth funds, underscores the high-stakes battle for media dominance.
WBD's board maintains its recommendation of the Netflix deal while reviewing Paramount's offer ahead of Tuesday's market open. Should they favor Paramount, Netflix retains a four-day window to counter—a MOVE that could further intensify the bidding war.
David Ellison's public determination to secure the deal reflects broader industry consolidation trends. The involvement of Middle Eastern investment vehicles highlights the global appeal of premium content libraries in the streaming era.
