Paramount Launches Hostile Takeover Bid for Warner Bros. After Netflix Deal Announcement
In a dramatic escalation of the streaming wars, Paramount on Monday launched a hostile takeover bid for Warner Bros., directly challenging Netflix’s recently announced $82.7 billion acquisition deal.
Just days after Netflix revealed its plans to absorb the entertainment giant, Paramount CEO David Ellison made it clear that the fight for Hollywood dominance is far from over.
Paramount vs. Netflix
Ellison’s aggressive move includes an all-cash tender offer that he claims provides “superior value” and a faster closing timeline than Netflix’s offer. According to Paramount, their deal could be completed in 12 months, compared to the 18-month horizon outlined by Netflix.
“We believe our offer will create a stronger Hollywood,” Ellison said in a statement. “It is in the best interests of the creative community, consumers, and the movie theater industry.” Paramount’s bid includes Warner’s cable television assets—valued by the company at $18 billion more than what Netflix is offering.
The press release also emphasized that Warner Bros. has repeatedly rejected previous offers—six in total—without engaging meaningfully with Paramount’s proposals. This time, however, Paramount is going directly to shareholders in what amounts to a full-scale takeover attempt.
White House and Regulatory Concerns
President Donald Trump has already weighed in on the Netflix-Warner deal, suggesting it “could be a problem” from an antitrust perspective. Trump also noted that his administration is “involved” in reviewing the acquisition, signaling possible regulatory headwinds for Netflix.
The Netflix deal has already triggered bipartisan pushback, with Senator Mike Lee (R-UT) warning that increasing Netflix’s dominance would mark the end of the “Golden Age of streaming.”
“Netflix built a great service,” Lee posted on X, “but increasing Netflix’s dominance this way would mean the end of the Golden Age of streaming for content creators and consumers.”
Hollywood’s New Battlefield
Paramount’s bold move pits two legacy players—both with major studio clout and streaming platforms—against each other in a high-stakes battle over the future of entertainment. The offer comes at a time when the movie theater industry is still recovering and streamers are rethinking their bloated content budgets.
Netflix co-CEO Ted Sarandos defended his company’s move, saying the merger is “pro-consumer, pro-innovation, pro-worker, pro-creator, [and] pro-growth.” But critics argue that the deal would give Netflix too much control over content pipelines, licensing, and distribution—especially with Warner Bros.’ vast catalog of IP, including Harry Potter, Batman, and Game of Thrones.
Ellison’s Trump Connection
Adding intrigue to the drama is David Ellison’s family connection to the Trump administration. His father, Oracle co-founder Larry Ellison, is a close Trump ally and major political donor. That connection may raise questions about how the Trump administration handles the antitrust review of both competing proposals.
As the entertainment industry braces for impact, all eyes will be on Warner Bros. shareholders—and the regulatory agencies now tasked with overseeing one of the most consequential media mergers in years.