Mega takeover Netflix wants to buy Warner Bros. and is ahead in the bidding war
According to media reports, the streaming giant Netflix is ahead in the bidding war for the Hollywood veteran Warner Brothers. Netflix submitted the highest bid, reported the news channel CNN, which itself belongs to the media group Warner Bros. Discovery.
05.12.2025, 07:09
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- Warner Bros. Discovery is negotiating exclusively with Netflix for the sale of its production and streaming business. However, Netflix is not interested in the TV channels.
- According to media reports, Netflix is offering around 28 dollars per share and would be prepared to pay a penalty of 5 billion dollars in the event of failure due to competition concerns.
- The takeover also has a political dimension: competitor Paramount is under the influence of investor Larry Ellison, who is close to Trump, and could gain control of CNN via Warner Bros.
Warner is now negotiating exclusively with Netflix, wrote the news agency Bloomberg and the Wall Street Journal, citing informed sources. Warner Bros. Discovery officially put itself up for sale in October after receiving several takeover bids.
In addition to the Hollywood studios and the streaming service HBO Max, the group also owns several television channels. Netflix is reportedly only interested in the production and streaming business.
However, Warner originally wanted to spin off the channels into an independent company anyway. The companies did not initially comment on the reports.
Netflix vs. Paramount
Netflix's fiercest competitor in the bidding war is Paramount. Warner's old Hollywood rival was only recently taken over by billionaire film producer David Ellison and his family. Ellison now wants to gain size in one fell swoop with the takeover of Warner.
With the acquisition, Netflix would bring Batman and Superman as well as numerous HBO series from "Game of Thrones" to "The Sopranos" into its home. At the same time, the service would also be active in the cinema business - Netflix has always refused to release its films in cinemas, preferring to concentrate on streaming.
Is Netflix too big?
According to CNN, the Netflix bid corresponds to a price of 28 dollars per share for the studio and streaming business. Paramount is therefore at around 27 dollars, but unlike Netflix, it wants to buy the entire group including the TV channels.
Warner Bros. Discovery shares closed trading on Thursday at around 24.50 dollars. Netflix also wants to pay Warner a contractual penalty of five billion dollars if the deal fails due to resistance from competition authorities.
These considerations are not unfounded: Netflix is the clear market leader in the streaming business. The service closed last year with a good 300 million paying customer households worldwide, after which no more figures were given. HBO Max recently had 128 million subscribers.
Trump friend wants power over CNN
The takeover battle also has a political dimension. Paramount was mainly bought with the money of David Ellison's father - software entrepreneur Larry Ellison, who is known as a supporter of US President Donald Trump. After the takeover, there were changes in the newsroom of the Paramount channel CBS.
In the US, the question has been repeatedly raised in recent weeks as to whether the news channel CNN, which often reports critically on the Trump administration, would adopt a different tone under the ownership of the Ellison family.
