Paramount’s $108.4B hostile bid for Warner Bros Discovery

Paramount Skydance has crashed back into the streaming wars with a hostile 108.4 billion dollar bid for Warner Bros Discovery, offering around 30 dollars per share in cash and trying to outbid Netflix for the entire company.

Only days ago, $NFLX had agreed a roughly 72 billion dollar equity deal for Warner Bros Discovery’s studios and streaming assets, but Paramount is now going straight to shareholders with a richer, all-cash heavy proposal. The financing mix includes Jared Kushner’s Affinity Partners plus Middle Eastern sovereign wealth funds, and the Ellison family is backstopping over 40 billion dollars of equity.

Warner Bros Discovery’s board says it will review Paramount’s approach, but it has not changed its existing support for the Netflix deal, so this could t ...