<p><span style="font-weight: 400;">Paramount announced on Monday that it was challenging Netflix with a hostile takeover bid for Warner Bros. </span></p>
<p><span style="font-weight: 400;">The </span><a href="https://ir.paramount.com/news-releases/news-release-details/paramount-launches-all-cash-tender-offer-acquire-warner-bros"><span style="font-weight: 400;">announcement</span></a><span style="font-weight: 400;"> comes just days after Netflix said it had reached a deal to acquire the entertainment company in a massive $82.7 billion deal.</span></p>
<p><span style="font-weight: 400;">“We believe our offer will create a stronger Hollywood. It is in the best interests of the creative community, consumers and the movie theater industry,” Paramount Chairman and CEO David Ellison said in a statement. “We believe they will benefit from the enhanced competition, higher content spend and theatrical release output, and a greater number of movies in theaters as a result of our proposed transaction.”</span></p>
<p><span style="font-weight: 400;">Ellison announced an all-cash tender offer, which the company said “provides superior value, and a more certain and quicker path to completion&#8221; to shareholders. Paramount&#8217;s proposed deal was also expected to close in 12 months, compared with Netflix&#8217;s 18 months.</span></p>
<p><span style="font-weight: 400;">The Paramount offer includes purchasing Warner Bros. cable television assets, which Paramount said are worth about $18 billion more than the Netflix bid. The company had previously made six offers to Warner Bros., only to be rejected each time. The press release noted that Warner Bros. &#8220;never engag[ed] meaningfully&#8221; with those offers.</span></p>
<p><span style="font-weight: 400;">This news comes not long after President Trump remarked on the Netflix deal, saying it “could be a problem” from an antitrust standpoint. The president also mentioned being “involved” in reviewing the deal.</span></p>
<p><span style="font-weight: 400;">Paramount CEO David Ellison is the son of Oracle co-founder Larry Ellison, who is a friend of President Trump and a major donor.</span></p>
<p><span style="font-weight: 400;">The proposed merger has had bipartisan pushback from skeptics who warn it could turn into a “nightmare” for consumers and creatives, as The Daily Wire previously <a href="https://www.dailywire.com/news/netflix-warner-bros-deal-faces-bipartisan-political-pushback?author=Reuters&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=Netflix-Warner+Bros+Deal+Faces+Bipartisan+Political+Pushback">reported</a>. </span></p>
<p><span style="font-weight: 400;">“Netflix built a great service, but increasing Netflix’s dominance this way would mean the end of the Golden Age of streaming for content creators and consumers,” Sen. Mike Lee (R-UT) wrote in a post on X.</span></p>
<p><span style="font-weight: 400;">“We’re highly confident in the regulatory process. This deal is pro-consumer, pro-innovation, pro-worker, it’s pro-creator, it’s pro-growth,” Netflix co-CEO Ted Sarandos said after the deal was announced.</span></p>

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Paramount Launches Hostile Takeover Bid For Warner Bros. Days After Netflix Deal Announced