Paramount seems poised to own Warner Bros. Discovery as the long-discussed merger finds a new twist in this story. Folks are wondering if this is the end of the line for WBD after Paramount Skydance’s offer was recommended by the Warner Bros. board yesterday. The David Ellison-owned company raised its bid to buy the rival entertainment giant to $31/share. It was all cash and Netflix had a week to match it. Well, the red streaming service said no thanks and now, here we are!
Ellison sure thinks this thing is a done deal. Honestly, you can see how he would feel that way in the face of everything that’s transpired with this merger. Netflix really did seem to have a hold on it. But, in the end, all that money now has them in pole position. I would caution against any doom and gloom at this juncture though. A merger of this size is going to take a long time to complete through courts and regulatory bodies. (Here’s a fun bit of kit, the letter announcing Netlfix’s acquisition of WBD is still up on their press site!)
“From the very beginning, our pursuit of Warner Bros. Discovery has been guided by a clear purpose: to honor the legacy of two iconic companies while accelerating our vision of building a next-generation media and entertainment company,” his comments to THR begin. “By bringing together these world-class studios, our complementary streaming platforms, and the extraordinary talent behind them, we will create even greater value for audiences, partners and shareholders — and we couldn’t be more excited for what’s ahead.”
Paramount announces victory with Warner Bros. acquisition
Of course, such news would send the creative community around film and television into a tail-spin. No, not the fun kind either. However, especially after 2020, the need to slow down and unpack the news is, humorously, paramount. Regulatory bodies seem lukewarm at best to the idea of one company owning a list of properties including: Oracle, Paramount, Skydance, TikTok, Warner Bros. Discovery, HBO, Showtime, multiple streaming services, and an island or two in there! The future is still unwritten despite how dreary it all seems at first glance. Still, it does look mighty grim at this moment in time.
“Netflix is a great company and throughout this process Ted [Sarandos], Greg [Peters], Spence [Neumann] and everyone there have been extraordinary partners to us. We wish them well in the future,” WBD CEO David Zaslav wrote in a statement.
He added, “Once our Board votes to adopt the Paramount merger agreement, it will create tremendous value for our shareholders. We are excited about the potential of a combined Paramount Skydance and Warner Bros. Discovery and can’t wait to get started working together telling the stories that move the world.” All that is encouraging sentiment for a shareholder, but is any of it true?
My money’s on no. As we sit now, Paramount had both very few mainstream hits to speak of in 2025, but also an Oscars absence that resounds with so much money invested. Add in the fact that a lot of WBD’s 2025 hits might not have even been greenlit by the incoming Paramount leadership. So much is left to come. Buckle up.
(featured image: Mario Tama/Getty Images)
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