Overview
- Paramount Skydance launched a hostile, all‑cash offer valuing Warner Bros Discovery at $108 billion to acquire the entire company.
- Netflix has a signed carve‑out agreement to buy Warner Bros and HBO/HBO Max for $82.7 billion including debt, with CNN and Discovery to be placed in a new listed company called Discovery Global.
- Warner’s directors say the PSKY proposal relies on heavy new borrowing and that claims of an “unlimited” Ellison family backstop are not supported.
- Paramount Skydance publicly disputed the board’s characterization of its guarantees, and its hostile offer remains open through January 8.
- Affinity Partners, the investment firm linked to Jared Kushner, withdrew from the PSKY consortium, as WBD and Paramount shares fell and Netflix gained after the board’s stance.