09/12/2025
Netflix offered $82 billion. Then Paramount threw down a $108.4 billion all-cash bid to buy all of Warner Bros. Discovery 🤯 Warner struck a preliminary deal with Netflix that values the studio + streaming assets at about $82.7 billion including debt. Paramount’s bid raises that total by more than $25 billion and includes all assets, with streaming, film studios, and even the cable networks like CNN, TNT and TBS. Warner’s board now has a duty to compare the offers and pick what they believe brings more value to shareholders, factoring in price, risk, and whether regulators will approve a larger combined entity. If Paramount wins, Netflix will usually be allowed to match or top the offer, but Warner might face a breakup fee if it walks away. A bigger payout and full-asset coverage could make Paramount’s bid the more attractive option for many investors.
