💰 WBD Rejects Paramount Offer in Favor of Netflix
The board of directors of Warner Bros. Discovery (WBD) has unanimously rejected a $108 billion acquisition proposal from Paramount Skydance.
Although Paramount’s bid ($30 per share) is formally higher than Netflix’s $72 billion offer, WBD management called it “inadequate” due to the high risks it poses to shareholders.
WBD board chairman Samuel Di Piazza emphasized that a merger with Netflix would provide a more stable valuation for the company. Netflix has already confirmed plans to maintain theatrical releases for Warner Bros. films and to develop the HBO brand as the foundation for premium television.
Further intrigue was added by the withdrawal of Paramount’s key partner, Affinity Partners, the investment fund founded by Jared Kushner (Donald Trump’s son-in-law). The fund pulled its support, citing overly intense competition among industry giants.
Paramount is expected to return with an even higher bid, which Netflix would have the right to match or exceed.
