Warner Bros likely to reject $108.4 billion Paramount bid, back Netflix in bidding war, sources say [View all]

Source: Yahoo! Finance/Reuters

Tue, December 16, 2025 at 4:28 PM EST 1 min read


Dec 16 (Reuters) - Warner Bros Discovery's board could announce a decision as early as ​Wednesday on Paramount Skydance's $108.4 billion takeover bid, with the board ‌likely to advise shareholders to vote against the offer, according to sources familiar with ‌the matter.

The decision to recommit to Netflix's buyout offer would mark the latest twist in the race for assets that include Warner Bros' storied film and TV studio, and its extensive film and television ⁠library, whose portfolio includes ‌classics ranging from "Casablanca" and "Citizen Kane" to contemporary favorites like "Harry Potter" and "Friends," HBO and the HBO Max streaming service.

A ‍Warner Bros Discovery spokesman declined to comment.

The winner will gain a big advantage in the streaming wars by locking up a deep content library that has ​long been an acquisition target. Netflix earlier this month emerged victorious ‌with a $27 cash-and-stock bid for Warner Bros' non-cable assets. Paramount CEO David Ellison then went directly to Warner Bros' shareholders with a $30-a-share, all-cash bid for the whole company.

Read more: https://finance.yahoo.com/news/warner-bros-likely-reject-108-212841241.html