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Warner Bros. Plans to Reject Paramount Offer Next Week
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December 30, 2025
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4:46Now PlayingLucas Shaw reports on the latest on Paramount's bid for Warner Bros.
Warner Bros. Discovery Inc. plans to once again reject a takeover bid from Paramount Skydance Corp. after the rival media company amended the terms of its offer, according to people familiar with the company’s thinking.
The Warner Bros. board hasn’t made a final determination, but will meet next week, said the people, who asked to not be identified discussing internal deliberations. Among the board’s concerns, Paramount has yet to increase its offer, which Warner Bros. earlier rejected as inferior to one from Netflix Inc. Paramount, the owner of its namesake studio and MTV, has been waging a public campaign to gather support for its proposal to buy Warner Bros., which owns HBO and CNN. Paramount went public with a $30-a-share cash bid on Dec. 8, three days after Warner Bros. accepted the deal with Netflix, which is only buying Warner Bros.’ studio and streaming businesses. Paramount has since amended its offer twice, most recently by including an assurance from billionaire Larry Ellison that he would personally guarantee $40.4 billion in equity financing and other commitments.
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