Warner Bros. Discovery may ask shareholders to reject Paramount hostile bid
Warner Bros has cited concerns around financing certainty, regulatory risk and the overall structure of the offer
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Published: Dec 17, 2025 10:42 AM | 1 min read
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Warner Bros. Discovery is preparing to advise its shareholders to reject a hostile takeover bid from Paramount Skydance, citing concerns around financing certainty, regulatory risk and the overall structure of the offer, according to reports citing people familiar with the matter.
Warner Bros board has concluded that Paramount’s tender offer does not match the value or certainty provided by the company’s existing agreement with Netflix, Bloomberg reported.
The board is expected to formally recommend shareholders turn down the bid, potentially as early as Wednesday.
A key sticking point for Warner Bros. is the financing backing Paramount’s offer. The bid is partly supported by equity commitments linked to a trust overseeing the wealth of Larry Ellison, father of Paramount Skydance CEO David Ellison.
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