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Paramount makes hostile takeover bid for Warner Bros. Discovery

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December 9, 2025

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After Netflix announced a deal to buy Warner Bros. Studios, HBO, and HBO Max, David Ellison’s Paramount went directly to shareholders with a bid to buy the entirety of Warner Bros. Discovery. President Trump has indicated he will be involved in reviewing the offers to see if a deal should be allowed to go through. NBC News’ Chloe Melas reports.

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Paramount makes hostile takeover bid for Warner Bros. Discovery · NBC News · Sentinel