Story perspectives

Warner Bros. Rejects Paramount Bid, Backs Netflix Merger

12/17/2025

Summary

Warner Bros. Rejects Bid

Warner Bros. Discovery is set to reject Paramount Skydance's $30 per share offer and move forward with Netflix merger.
Paramount Skydance's hostile bid aims to bypass Warner Bros. Discovery's management and reach shareholders directly.
Jared Kushner's private equity firm has withdrawn its support for Paramount's acquisition.
Gulf wealth funds back Paramount Skydance's bid.
Warner Bros. Discovery is evaluating whether Paramount Skydance's offer is more favorable than Netflix's $27.75 offer.

Summary

Netflix Co-CEOs Commit

Netflix co-CEOs Greg Peters and Ted Sarandos reaffirm their commitment to acquiring Warner Bros. Discovery amid Paramount's hostile $108.4 billion bid for the company.
They say the $82.7 billion deal focuses on growth, avoids closures, and will maintain Warner Bros. theatrical releases.
Regulatory scrutiny is anticipated because Senator Elizabeth Warren raises antitrust concerns and the Warner Bros. board is expected to respond to Paramount's offer soon.

Summary

Cameron Defends Theaters

James Cameron opposes Netflix's acquisition of Warner Bros. Discovery, warning it could diminish the importance of movie theaters.
He asserts, "You can't just steamroll theatrical out of existence," to emphasize preserving the theatrical experience.
Cameron questions Netflix's assurances to honor Warner's theatrical history.
He remains committed to promoting cinema attendance through his films, including Avatar: Fire and Ash.

History

Historical Context

The 2000 Telecommunications Act significantly altered media ownership, enabling major companies like Warner Bros. and Paramount to expand through mergers, such as Viacom's $48 billion acquisition of CBS. This trend continues today, exemplified by Paramount Skydance's $108.4 billion bid, backed by Gulf wealth funds, amid antitrust scrutiny from Senator Elizabeth Warren, raising concerns about the future of theatrical releases and audience engagement.

1 of 4

Warner Bros. Rejects Bid

Warner Bros. Discovery is set to reject Paramount Skydance's $30 per share offer and move forward with Netflix merger.
Paramount Skydance's hostile bid aims to bypass Warner Bros. Discovery's management and reach shareholders directly.
Jared Kushner's private equity firm has withdrawn its support for Paramount's acquisition.
Gulf wealth funds back Paramount Skydance's bid.
Warner Bros. Discovery is evaluating whether Paramount Skydance's offer is more favorable than Netflix's $27.75 offer.

1 / 4