Paramount has intensified its efforts to acquire Warner Bros Discovery. The company is now directly challenging Netflix’s substantial $72 billion takeover offer. This marks a significant escalation in the battle for control over a major entertainment giant.

This development follows Paramount’s recent appeal. A few days ago, it urged Warner Bros Discovery shareholders to reject Netflix’s agreement. Warner Bros had previously favored Netflix’s proposal. Such a move would reshape the entire United States entertainment industry.

Paramount Criticizes Netflix’s Offer

David Ellison, Paramount’s Chairman and CEO, issued a strong statement. He criticized the Netflix deal. Ellison argued it “exposes Warner Bros Discovery shareholders to a protracted multi-jurisdictional regulatory clearance process.” He highlighted the uncertain outcome of such a process. Furthermore, he noted a “complex and volatile mix of equity and cash” involved.

Ellison revealed that Paramount has submitted six proposals to Warner Bros Discovery. These offers were made over a period of 12 weeks. He stressed that Paramount’s offer serves the best interests of the creative community. It aims to foster a stronger Hollywood, he added.

“We believe our offer will create a stronger Hollywood,” Ellison stated. “It benefits the creative community, consumers, and the movie theatre industry.” He explained the benefits would include enhanced competition. There would also be higher content spending and increased theatrical release output. Ultimately, more movies would reach theaters as a result of their proposed transaction.

Details of Netflix’s Bid

Netflix signed its deal on Friday, December 6, 2025. The agreement aims to purchase Warner Bros Discovery. This studio is well-known for franchises like “Harry Potter” and platforms such as HBO Max. The deal combines cash and stock components.

It is valued at $27.75 per Warner share. This gives the entire enterprise a total value of $82.7 billion. This figure includes existing debt. The acquisition is expected to conclude within 12 to 18 months. This timeline depends on Warner Bros Discovery completing the separation of its cable operations. Networks like CNN and Discovery are specifically excluded from this sale.

Trump Raises Concerns Over Market Share

Former President Donald Trump weighed in on the development. He commented that Netflix’s agreement to buy Warner Bros Discovery “could be a problem.” Trump cited the large size of the combined market share as his primary concern. He also affirmed his intention to be involved in the federal government’s decision. This would determine whether the deal receives approval.