Overview
- Netflix holds a signed agreement to acquire Warner Bros. Discovery’s studios plus HBO and HBO Max, valued at about $72 billion in equity, roughly $82.7 billion enterprise value.
- Paramount Skydance countered with a hostile $108.4 billion offer for all of WBD that includes cable networks such as CNN, pricing the bid at about $30 per share.
- Regulatory filings cited in coverage outline break fees: Netflix would owe WBD $5.8 billion if approvals fail, while WBD would owe Netflix $2.8 billion if it accepts a superior offer.
- President Donald Trump signaled involvement in the review and criticized CNN’s current leadership, as unions and experts warn of job risks, reduced content diversity, and pressure on public broadcasters.
- Netflix executives pledged to keep theatrical releases and denied plans for mass layoffs, while analysts forecast further consolidation, potential price increases, and a shift toward more ad-supported streaming tiers.