Netflix co-CEO Ted Sarandos gave his first interview since the company pulled out of their deal to acquire Warner Bros., saying contrary to the rumors, it wasn’t President Trump’s influence that killed the merger.
The entertainment exec called the competing offer from Paramount “irrational” and claimed he had no regrets about how it all played out. Sarandos said it came down to having a set price amount they weren’t willing to go beyond and being outbid by David Ellison’s rival offer.
“We had a very tight range that we’d be willing to pay and made that offer back when we closed this deal,” Sarandos told Lucas Shaw of Bloomberg in an <a href="https://www.bloomberg.com/news/articles/2026-02-27/how-netflix-forced-paramount-to-cough-up-more-for-warner-bros?cmpid=screentime&amp;utm_campaign=screentime&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=260301&amp;embedded-checkout=true">interview</a> published Saturday. “I’m happy where we got in and happy where we got out.”
Rumors swirled that the Department of Justice may have influenced the breakdown, or that Trump himself may have had sway. But Sarandos said those narratives are false.
“I don’t know that there was growing political resistance,” the Netflix exec said. “It was a growing narrative of political resistance. But we were on a normal regulatory path. … This story has been fed out for everybody, but it’s just not accurate. We were not only involved with the DOJ, we were involved with 50 regulatory bodies around the world. These things have been going exactly the way they should.”
Sarandos told Shaw that Trump “stayed completely neutral on this.”
“The truth of it is, someone was going to lose it for a dollar,” Sarandos said of the deal. “And the quicker you accepted that, the better.”
Shaw described Paramount as being an “unusual other buyer,” which Sarandos agreed with.
“Unusual, yeah, unusual, irrational, whatever words you want to use in that,” he replied. “It’ll be fascinating to see the next steps. I have been on the record a lot in the last two weeks talking about what I think the future looks like. I’m confident in our future that we’re not impacted by all that. In fact, maybe it’s to our advantage. But I hope I’m wrong for the sake of the industry.”
Warner Bros. agreed in December to an $82.7 billion deal with Netflix. Paramount responded with several hostile takeover bids over the following months, culminating in a surprise twist as the streaming giant bowed out in February.
“&#8230;this transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price,” Sarandos and Netflix co-CEO Greg Peters said in a statement at the time, as The Daily Wire previously <a href="https://www.dailywire.com/news/netflix-backs-down-in-fight-for-warner-bros-leaving-paramount-inches-from-victory">reported</a>.

Ted Sarandos

Netflix CEO Sets Record Straight On Trump Rumors After Warner Bros. Deal Fizzles

Business

Entertainment

Hollywood

Netflix

Paramount

U.S.

Warner Bros

In a stunning twist in the months-long war between Netflix and Paramount over which company would purchase Warner Bros., the streaming giant has <a href="https://www.hollywoodreporter.com/business/business-news/netflix-backs-out-warners-deal-paramount-win-1236516763/">bowed out</a>.
After Warner Bros. released a statement on Thursday saying that the company’s board of directors viewed Paramount’s latest offer as a “<a href="https://ir.wbd.com/news-and-events/financial-news/financial-news-details/2026/Warner-Bros--Discovery-Board-of-Directors-Determines-Revised-Proposal-from-Paramount-Skydance-Constitutes-a-Company-Superior-Proposal/default.aspx">superior proposal</a>,” and that Netflix had four days to respond, the streamer backed out of the bidding war.
&#8220;Under the terms of the Netflix merger agreement, this notice triggers a four business day period during which Netflix has the right to propose revisions to the Netflix merger agreement so that the PSKY proposal would cease to constitute a &#8216;Company Superior Proposal,'&#8221; Warner Bros. stated in their <a href="https://ir.wbd.com/news-and-events/financial-news/financial-news-details/2026/Warner-Bros--Discovery-Board-of-Directors-Determines-Revised-Proposal-from-Paramount-Skydance-Constitutes-a-Company-Superior-Proposal/default.aspx">press release</a>.
Netflix Co-CEOs Ted Sarandos and Greg Peters responded in a <a href="https://ir.netflix.net/investor-news-and-events/financial-releases/press-release-details/2026/Netflix-Declines-to-Raise-Offer-for-Warner-Bros-/default.aspx">statement</a> of their own.
“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid,” Sarandos and Peters said.
The company heads added that they believe Netflix would have taken good care of the Warner Bros. IP (intellectual property) and “strengthened the entertainment industry and preserved and created more production jobs in the U.S.”
“But this transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price,” they concluded.
Paramount’s most recent bid raised the per-share price to $31, and featured a ticking fee, which would have paid shareholders if the deal took too long to come to fruition. Additionally, the company offered a $7 billion breakup fee, which would be paid if the deal were to fall through due to regulatory issues, and a nearly $3 billion fee that Warner Bros. owes Netflix as a result of their prior deal not materializing.
Netflix’s last offer was valued at $82.7 billion, and was aimed at purchasing Warner Bros.’ film and streaming divisions (HBO Max), as well as DC Comics. Paramount, on the other hand, would be purchasing all of Warner Bros. Discovery, including its linear and cable TV networks.
There has been much consternation in Hollywood, especially following the Disney-Fox acquisition, over the Warner Bros. bidding war, with many in the industry voicing concerns that further media consolidation would do irreparable damage to the movie and TV business, with lost jobs and fewer options for creatives.
Though neither company (Paramount or Netflix) were favored by those in the industry, Netflix was viewed with a particularly skeptical eye as some questioned the streaming giant’s commitment to the theatrical experience. Others view Paramount CEO David Ellison&#8217;s apparently close relationship with the Trump administration as a reason for pause.

There’s A Winner In The Netflix/Paramount Bidding War

Movies

Concerned Women for America, the nation’s largest public policy organization for women, is urging the Justice Department to block Netflix’s planned acquisition of Warner Bros. Discovery.
The organization shared a copy of the letter exclusively with The Daily Wire on Thursday morning. It raises concerns about Netflix’s transparency with families and a lack of clarity in how it applies age-based ratings and content disclosures to programs marketed to children.
The letter from CWA also argued that the proposed merger “threatened competition and the public interest.” 
It pointed out that television viewership has changed and said streaming platforms have enormous sway over the viewing public, but are at the same time less regulated.
“By absorbing Warner Brothers’ extensive content library and distribution assets, Netflix would surpass the 30% market share threshold, making it a presumptive monopoly, and giving it unprecedented dominance in the streaming ecosystem,” the letter says. “Allowing such consolidation would reduce competition, harm consumers, and create a structural imbalance that would be exceptionally difficult to reverse, especially in view of the absence of a dedicated regulatory authority for streaming.”
CWA President and CEO Penny Nance wrote in the letter that Netflix has been notoriously vague about content marketed to children. The organization cited a December study finding that one-third of all Netflix shows rated for children include LGBT characters, themes, or messaging, with that percentage jumping to 41% for TV-G and TV-Y7 categories, as The Daily Wire previously <a href="https://www.dailywire.com/news/preschool-propaganda-study-finds-41-of-netflix-kids-shows-include-lgbt-themes">reported</a>.
Nance argued that if the Justice Department did not block the merger, it should, at a minimum, “secure concrete, enforceable commitments and publish clear public‑interest expectations for streaming platforms,” including third-party ratings, clearer content labels, including for LGBT material, enhanced child-protective settings, and frequent audits.
In a written statement to The Daily Wire, Nance said she does not believe a potential acquisition involving Paramount would raise the same concerns as the proposed Netflix deal.
&#8220;Our concerns with Netflix stem mainly from its lack of transparency around content ratings, given that children&#8217;s programming has a large amount of LGBTQ content that is not disclosed to parents,” Nance said. “Paramount does not wield the same market influence as Netflix. The DOJ must reject Netflix&#8217;s bid for Warner Bros.”
Warner Bros. agreed in December to an $82.7 billion deal with Netflix. Since then, Paramount has submitted several hostile takeover bids in an effort to block the agreement, though none have succeeded.
Warner Bros. Discovery is <a href="https://www.wbd.com/news/warner-bros-discovery-board-directors-determines-revised-proposal-paramount-skydance-could">currently reviewing</a> Paramount Skydance&#8217;s latest offer: $31-per-share cash. It includes a $7 billion regulatory termination fee and coverage of their $2.8 billion breakup fee with Netflix.

Entertainment Industry Workers Vote To Strike, Threatening Hollywood Productions

Conservative Women Expose Netflix Kids Content – How The Trump Admin Could Step In

Warner Bros Discovery is considering reopening sale talks with rival Hollywood studio Paramount Skydance after receiving its hostile suitor&#8217;s most recent amended offer, Bloomberg News reported on Sunday, citing people with knowledge of the matter.
Members of Warner Bros&#8217; board are discussing whether Paramount could offer the path to a superior deal, the Bloomberg report said, adding that the board has not decided how to respond and may stick to the current deal with Netflix.
Reuters could not immediately verify the report. Paramount, Warner Bros and Netflix did not respond to requests for comment.
Paramount had enhanced its Warner Bros bid last week by offering shareholders extra cash for each quarter the deal fails to close after this year. It also agreed to cover the breakup fee the HBO parent would owe Netflix if it walked away, even though the CBS owner did not raise its per-share offer.
Paramount said it has offered shareholders a 25-cent-per-share quarterly &#8220;ticking fee&#8221; (about $650 million) in cash starting in 2027 until closing and agreed to cover Warner Bros’ $2.8 billion breakup fee to Netflix. However, it did not raise its $30-per-share offer, valuing the deal at $108.4 billion including debt.
Both Netflix and Paramount covet Warner Bros for its leading film and television studios, extensive content library and major franchises such as &#8220;Game of Thrones,&#8221; &#8220;Harry Potter&#8221; and DC Comics superheroes Batman and Superman.
Activist investor Ancora Holdings, which has built a nearly $200 million stake, last week said it plans to oppose the Netflix deal, arguing the board did not sufficiently engage with Paramount over its rival bid, which includes cable assets like CNN and TNT.
(Reporting by Chandni Shah in Bengaluru; Editing by Chris Reese and Matthew Lewis)

In this photo illustration, the Warner Bros Discovery logo

Warner Bros Weighs Reopening Sale Talks With Paramount, Bloomberg Reports

Media

Cleveland-based wealth management firm Ancora Holdings, a company with a $200 million stake in Warner Bros, is reportedly urging the company to reconsider the acquisition offer from Paramount.
Warner Bros. accepted a massive deal from Netflix worth $82.7 billion, as The Daily Wire previously <a href="https://www.dailywire.com/news/netflix-to-acquire-warner-bros-in-massive-billion-dollar-deal">reported</a> in December. Paramount has since submitted a hostile takeover bid in an effort to subvert the Netflix deal. That all-cash offer, the sixth made by the entertainment company, included the acquisition of the entire business at $30 per share.
Now Ancora Holdings is weighing in, saying Warner Bros. failed to properly evaluate and consider the Paramount Bid, per <a href="https://www.wsj.com/business/deals/activist-investor-pushes-warner-to-walk-away-from-netflix-deal-0bbe663e?mod=hp_lead_pos1">The Wall Street Journal</a>. The outlet noted that Ancora emailed Warner Bros. CEO David Zaslav on Tuesday to say they were considering a proxy fight if the board failed to negotiate the best deal.
The WBD board “now has no choice but to deem Paramount’s amended offer as one that could reasonably be expected to result in a Superior Proposal, given Netflix’s presently inferior proposal and unaddressed regulatory issues. Once that happens, the Board could then engage in good faith with Paramount to maximize shareholder value, paving the way for WBD to secure an even higher offer. If the WBD Board refuses to do this, Ancora will vote “NO” on the inferior Netflix deal and seek to hold the WBD Board accountable,” the firm said in a <a href="https://ancora.s3.us-west-1.amazonaws.com/Ancora's+Case+for+Voting+%E2%80%9CNO%E2%80%9D+on+the+Currently+Proposed+Netflix-WBD+Merger.pdf">presentation</a>.
“The WBD Board opted to rush into a flawed deal with Netflix rather than earnestly pursue a superior offer from Paramount – in line with the directors’ fiduciary duties,” the presentation said.
While Ancora has less than 1% ownership, they are planning to continue buying shares and would potentially influence other shareholders.
“WBD’s experienced and independent Board and management team have a proven track record of acting in the best interests of the Company and shareholders – as evidenced by the extensive actions they have taken to unlock the full value of WBD’s unmatched portfolio of assets over the last year,” WBD said in a statement on Wednesday.
“We remain resolute in our commitment to maximize value for shareholders.”
Paramount revised its hostile offer this week to include paying the $2.8 billion termination fee Warner Bros. would owe Netflix if the deal were called off.
The original hostile takeover bid rejection was unanimous by the board, Warner Bros. previously stated.

Investor Urges Warner Bros. To Consider Paramount Deal, Reject Netflix

The newest “Star Trek” series is apparently so awful that it got the original Captain Kirk to see eye-to-eye with one of President Donald Trump’s closest advisers.
White House Deputy Chief of Staff and Homeland Security adviser Stephen Miller responded to a brief clip of the new Paramount+ series &#8220;Star Trek: Starfleet Academy&#8221; in an X post, arguing that the only way for producers to save the show would be to give full creative control to actor William Shatner.
&#8220;Tragic. But it’s not too late for @paramountplus to save the franchise,&#8221; Miller said. &#8220;Step 1: Reconcile with @WilliamShatner and give him total creative control.&#8221;
Shatner <a href="https://x.com/WilliamShatner/status/2013275829464383866">responded</a> several days later, saying, &#8220;I am so on the same page with you @StephenM&lt;! The fact that they have not [cured] Hyperopia by the 32rd Century is an abysmal oversight on the writers!&#8221;
&#8220;Also @paramountplus needs to up the budget because I’m sure that a well oiled organization like Starfleet in the distant future could afford more than one pair of glasses for at least this hyperopic bridge crew,&#8221; Shatner continued, adding, &#8220;Do they pass the glasses around while piloting the ship? Shame on the line producers! That is what you meant, right?&#8221;
&#8220;I am ready to assume command of the series! Call me!&#8221; he concluded.
Shatner was written out of the franchise in the 1994 film &#8220;Star Trek: Generations&#8221; – a move he&#8217;s said was made because producers wanted to move on to solely using the &#8220;Star Trek: The Next Generation&#8221; cast led by British actor Patrick Stewart&#8217;s Jean-Luc Picard.
Shatner said that he was told before filming began for &#8220;Generations&#8221; that Captain Kirk was going to die in the film whether he participated or not – and so he opted for an onscreen death that allowed him a heroic exit.
&#8220;So the producer said, &#8216;We&#8217;re going to kill Kirk because we think that The Next Generation will make more money at the box office,'&#8221; he explained.
Three more movies followed with &#8220;The Next Generation&#8221; cast, and the series has since rebooted with three more films, starring Chris Pine as Captain Kirk.

William Shatner

Paramount’s ‘Star Trek’ Series Is So Awful It Brought William Shatner And Stephen Miller Together

Star Trek

Stephen Miller

Wokeness

Star trek starfleet

Woke TV Is Back With A Vengeance In This New Paramount Show

Diversity Equity and Inclusion (DEI)

Matt Walsh

Opinion

Television

Woke Culture

Warner Bros. Discovery has formally rejected the hostile takeover bid from Paramount amid their merger deal with Netflix, dubbing the proposed terms “inferior” to the Netflix partnership.
“Your Board negotiated a merger with Netflix that maximizes value while mitigating downside risks, and we unanimously believe the Netflix merger is in your best interest. We are focused on advancing the Netflix merger to deliver its compelling value to you,” the board wrote in a letter to shareholders Wednesday morning, per <a href="https://variety.com/2026/tv/news/warner-bros-discovery-rejects-paramount-skydance-ellison-latest-takeover-offer-1236624282/">Variety</a>.
The letter further stated that the Paramount offer “is not more favorable to WBD stockholders than the Netflix Merger and continues to be inadequate,” because of “insufficient value, taking into account price and numerous risks, costs and uncertainties.” 
The decision to reject the bid was said to be unanimous. This was the sixth offer made and rejected by Paramount.
“The Offer is entirely at [Paramount]’s discretion – [Paramount] can reduce the price, impose new conditions, or walk away entirely at any time prior to its acceptance of tendered shares,” Warner Bros. said of the proposal.
Paramount announced their latest bid days after the Netflix deal was announced in December.
“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 at the time, as The Daily Wire previously <a href="https://www.dailywire.com/news/paramount-launches-hostile-takeover-bid-for-warner-bros-days-after-netflix-deal-announced?author=Amanda+Harding&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=Paramount+Launches+Hostile+Takeover+Bid+For+Warner+Bros.+Days+After+Netflix+Deal+Announced">reported</a>. 
“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.”
President Trump remarked on the Netflix deal in December, saying it “could be a problem” from an antitrust standpoint. The president also mentioned being “involved” in reviewing the deal. The proposed merger has had bipartisan pushback from skeptics who warn it could turn into a “nightmare” for consumers and creatives. 
Many critics also worry that it could destroy the theater industry, as rumors persist that Netflix will push for a shorter theatrical release window for major films. Per <a href="https://www.avclub.com/netflix-warner-bros-17-day-theatrical-amc">reports</a>, the timing could be shortened to as little as 17 days, drastically reducing the industry standard of a 30 to 45-day delay before movies arrive on streaming services.

Warner Bros.

Warner Bros. Rejects ‘Inferior’ Paramount Hostile Takeover Bid, Chooses Netflix

Warner Bros. Rejects 'Inferior' Paramount Hostile Takeover Bid, Chooses Netflix

Warner Bros Discovery will likely reject Paramount Skydance&#8217;s amended $108.4 billion hostile bid for the storied Hollywood studio despite a personal guarantee from billionaire Larry Ellison backing the media giant&#8217;s offer, according to a person familiar with the matter.
The board has yet to make a final decision, but is expected to meet next week, said the person, who requested anonymity to discuss internal deliberations.
Warner Bros and Paramount declined to comment on the board&#8217;s position, reported earlier by CNBC.
The decision could keep Warner Bros on track to pursue a rival cash-and-stock deal with Netflix despite Paramount&#8217;s attempt to sweeten its offer.
Ellison, whose son David is chairman and CEO of Paramount, personally guaranteed the equity underpinning the bid, hoping to ease doubts that had dogged its earlier proposal.
The company did not increase its $30-per-share all-cash offer, but it raised its regulatory reverse termination fee to match Netflix and extended its tender offer deadline.
Netflix&#8217;s $82.7 billion offer, while lower in headline value, offers a clearer financing structure and fewer execution risks, analysts have said.
Under terms of that agreement, Warner Bros would face a $2.8 billion breakup fee if it walks away from the Netflix deal.
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Harris Oakmark, Warner Bros&#8217; fifth largest investor with 96 million shares, said the revised offer wasn&#8217;t &#8220;sufficient,&#8221; and noted that it was not enough to cover the breakup fee.
Paramount has argued its bid would face fewer regulatory obstacles. A combined Paramount-Warner Bros entity would create a studio larger than industry leader Disney and merge two major television operators.
Warner Bros&#8217; board previously urged shareholders to reject Paramount&#8217;s $108.4 billion bid for the entire company, including its cable television assets, citing concerns over financing certainty and the absence of a full guarantee from the Ellison family.
Paramount has argued its offer is more market-proof than Netflix&#8217;s $82.7 billion proposal, whose value has fluctuated with Netflix&#8217;s share price.
Lawmakers from both parties have raised concerns about further consolidation in the media industry. U.S. President Donald Trump has said he plans to weigh in on the landmark acquisition.
(Reporting by Akash Sriram in Bengaluru; Editing by Dawn Kopecki, Krishna Chandra Eluri, Anil D&#8217;Silva and David Gregorio)

Warner Bros Likely To Reject Paramount’s Latest Hostile Bid, Source Says

Economy

Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance&#8217;s latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to streaming giant Netflix.
The guarantee, disclosed in a filing on Monday, seeks to allay the Warner Bros board&#8217;s doubts about Paramount&#8217;s financing and the lack of full Ellison family backing, which had pushed it toward the competing cash-and-stock offer from Netflix.
Here&#8217;s what analysts and market experts are saying about the latest development:
SETH SHAFER, PRINCIPAL ANALYST AT S&amp;P GLOBAL, NASHVILLE, TENNESSEE
&#8220;I don&#8217;t think the revised bid from Paramount Skydance significantly alters the current status quo. I doubt many WBD shareholders that are on the fence or planning to vote &#8216;no&#8217; were holding out due to issues the revised bid addresses such as a guarantee from Larry Ellison on the funding front.&#8221;
&#8220;We&#8217;re still likely months away from a shareholder vote on the Paramount offer and the planned closing date of the deal agreed with Netflix would be in the second half of 2026. There will likely be many more twists and turns ahead and both Paramount and Netflix have a chance.&#8221;
MICHAEL PACHTER, MANAGING DIRECTOR, STRATEGIC PLANNING AT WEDBUSH SECURITIES, CALIFORNIA
&#8220;The WBD Board rejected the last offer because they thought it was speculative and revocable. This one makes the offer irrevocable and directly addresses the Board&#8217;s concern.
&#8220;If the board is rational and ethical (a big if), it must accept the offer, since the $108 billion PSKY offered is more than the $83 billion offered by Netflix. We;ll see what the Board does, but PSKY is right to make this offer directly to them.&#8221;
&#8220;Yes, Paramount has a chance to win, approaching 100%&#8221;
ROSS BENES, SENIOR ANALYST AT EMARKETER, NEW YORK
&#8220;The updated offer from Paramount doesn&#8217;t change the fact that WBD&#8217;s executives prefer Netflix. The new offer does make Paramount&#8217;s case more compelling to the board and shareholders. But WBD executives will keep fighting to maintain the Netflix deal as long as they can. This battle will be prolonged.&#8221;
PAOLO PESCATORE, ANALYST AT PP FORESIGHT, LONDON
&#8220;Paramount remains in a precarious position and is making a last-ditch effort to avoid being left out in the shadows. It cannot afford to lose out and be a weaker player compared to its stronger rivals.&#8221;
&#8220;The improved offer is a step in the right direction, but it is unlikely to be enough.&#8221;
REUBEN MILLER, HEAD OF ANTITRUST AT DEALREPORTER, WASHINGTON DC
&#8220;The financing from the sovereign wealth funds opens a regulatory box that needs to be checked. Having these players involved will bring another dimension of scrutiny, as well as a big diplomatic question &#8211; how far will using money from Middle Eastern sovereign wealth funds bring them into partnership with one America&#8217;s cultural touchstones?&#8221;
&#8220;Paramount has claimed that any influence from the funds will be neutralised due to their lack of voting rights, but there are other questions at play which make the picture far murkier. Notably, the access of these funds, as key stakeholders, to WBD and Paramount&#8217;s data, as well as the wider diplomatic implications of foreign bodies having a vested stake in such a huge entity in U.S. media production and consumption.&#8221;
(Reporting by Kritika Lamba in Bengaluru, compiled by Arpan Varghese; Editing by Anil D&#8217;Silva)

Ellison Steps In With Personal Guarantee As Paramount Fights For Warner Bros

Antitrust

Warner Bros Discovery&#8217;s board could announce a decision as early as Wednesday on Paramount Skydance&#8217;s $108.4 billion takeover bid, with the board likely to advise shareholders to vote against the offer, according to sources familiar with the matter.
The decision to recommit to Netflix&#8217;s buyout offer would mark the latest twist in the race for assets that include Warner Bros&#8217; storied film and TV studio, and its extensive film and television library, whose portfolio includes classics ranging from &#8220;Casablanca&#8221; and &#8220;Citizen Kane&#8221; to contemporary favorites like &#8220;Harry Potter&#8221; and &#8220;Friends,&#8221; HBO and the HBO Max streaming service.
A Warner Bros Discovery spokesman declined to comment.
The winner will gain a big advantage in the streaming wars by locking up a deep content library that has long been an acquisition target.
Netflix earlier this month emerged victorious with a $27 cash-and-stock bid for Warner Bros&#8217; non-cable assets.
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Paramount CEO David Ellison then went directly to Warner Bros&#8217; shareholders with a $30-a-share, all-cash bid for the whole company.
In regulatory filings, Paramount has said its bid is superior to Netflix&#8217;s offer and would enjoy a clearer path to regulatory approval. Its offer is financed by $41 billion in new equity, which is backed by the Ellison family and RedBird Capital, and $54 billion of debt commitments from Bank of America, Citi and Apollo.
Jared Kushner&#8217;s Affinity Partners, which was one of Paramount&#8217;s financing partners, is exiting the battle, according to Bloomberg.
Paramount and Affinity Partners did not immediately respond to Reuters&#8217; request for comment.
(Reporting by Milana Vinn in New York and Dawn Chmielewski in Los AngelesEditing by Ken Li, Dawn Kopecki and Nick Zieminski)

Warner Bros Likely To Reject $108.4 Billion Paramount Bid, Back Netflix In Bidding War, Sources Say

Paramount announced on Monday that it was challenging Netflix with a hostile takeover bid for Warner Bros. 
The <a href="https://ir.paramount.com/news-releases/news-release-details/paramount-launches-all-cash-tender-offer-acquire-warner-bros">announcement</a> comes just days after Netflix said it had reached a deal to acquire the entertainment company in a massive $82.7 billion deal.
“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.”
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.
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.
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.
Paramount CEO David Ellison is the son of Oracle co-founder Larry Ellison, who is a friend of President Trump and a major donor.
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>. 
“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.
“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.

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