Media Warner Bros rejects improved offer from Paramount
The Board of Directors of Warner Bros Discovery has unanimously rejected the improved takeover bid from competitor Paramount. It reaffirmed its preference for the Netflix bid on Wednesday.
07.01.2026, 14:10
SDA
The new offer from Paramount "falls short of our merger agreement with Netflix on several key points," explained Chairman of the Board Samuel Di Piazza Jr in a statement.
Paramount did not increase the amount of its purchase offer of more than 100 billion dollars, but did change some parameters. Among other things, the company added a personal guarantee of 40.4 billion dollars from billionaire and Oracle founder Larry Ellison. He is the father of Paramount CEO David Ellison.
The bidding war has a political component: While Netflix is close to the Democratic Party, Paramount CEO Ellison, or rather his father Larry Ellison, is an ally of US President Donald Trump. Trump had already questioned Netflix's takeover plans, citing the streaming provider's "very large market share". Trump is also insisting that the television channel CNN, which he has repeatedly criticized in the past, be sold.
