New Report Reveals Warner Bros. Discovery’s Response to Paramount’s First Takeover Bid

Reports of a rejected acquisition offer between Warner Bros. Discovery and Paramount Skydance have renewed speculation about potential shifts in the entertainment industry. The discussions come amid broader consolidation trends across major studios. While details remain limited, the reported bid reflects ongoing efforts by media companies to strengthen their position in a competitive streaming landscape.

Reports claim Warner Bros. Discovery has rejected first takeover bid from Paramount

Bloomberg reported that Warner Bros. Discovery Inc. (WBD) recently rejected an acquisition offer of “around $20 per share” from David Ellison’s Paramount Skydance, calling the proposal “too low.” Sources familiar with the matter said the bid was made in recent weeks and valued the company below its internal expectations. WBD’s shares closed at $17.10 on October 10, giving it a market capitalization of $42.3 billion.

According to Bloomberg, the offer did not specify whether it included WBD’s total debt of $35.6 billion as of June 30. Paramount Skydance, backed by billionaire Larry Ellison, completed its $8 billion merger with Paramount Global in August 2025. The company has reportedly been in talks with Apollo Global Management to help finance its pursuit of Warner Bros. Discovery. Representatives for WBD, Paramount, and Apollo declined to comment.

At the Bloomberg Screentime conference last week, David Ellison did not confirm that Paramount Skydance had made a formal bid but emphasized the need for “more content-producing engines” to sustain growth in the streaming industry. He said, “You actually need more content to yield more engagement. And so we would actually want to be in the business… to produce more movies, more television series to get more scale and engagement.”

The Wall Street Journal first reported that the bid aims to acquire all of Warner Bros. Discovery’s assets, including Warner Bros. Entertainment, HBO/HBO Max, and CNN. The offer comes before WBD’s planned 2026 restructuring into two entities: Warner Bros., which will focus on studios and streaming, and Discovery Global, which will include linear TV and Discovery+.

Ellison plans to revisit or revise the bid following WBD’s initial rejection.

Source: Comingsoon.net