Hollywood was shaken last Friday when Netflix announced an $82.7 billion deal to acquire Warner Bros. Discovery. As a result, the announcement sent shockwaves across the entertainment industry. Furthermore, major Hollywood unions and creatives—including the Directors Guild of America, led by Christopher Nolan, and the Writers Guild of America—immediately raised concerns. Specifically, they worried about the merger’s implications for Warner Bros. and DC properties.
Paramount Enters the Battlefield With a Higher Offer
According to a fresh report from The Hollywood Reporter, a dramatic twist has emerged: the Netflix–Warner Bros. Discovery deal may now face a significant hurdle. Meanwhile, Paramount Pictures has submitted a hostile takeover bid, offering a substantially higher sum to acquire Warner Bros. Discovery.
In a strong statement, Paramount criticized Netflix’s offer as financially weak:
“The Paramount offer for the entirety of WBD provides shareholders $18 billion more in cash than the Netflix consideration.”
The studio added:
“The WBD board’s preference for Netflix relies on ‘an illusory prospective valuation of Global Networks that is unsupported by the business fundamentals and encumbered by high levels of financial leverage assigned to the entity.”
This move highlights how high-stakes mergers in Hollywood can dramatically shift overnight, as studios compete aggressively for valuable assets. Paramount’s intervention introduces a new level of uncertainty to one of the biggest streaming-era deals in history.
Paramount Urges Shareholders to Consider the Superior Bid
Paramount executive David Ellison reinforced the message, encouraging WBD shareholders to seriously evaluate their “superior all-cash offer” compared to Netflix’s $82.7 billion proposal:
“WBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company.”
Ellison emphasized that the public proposal mirrors what was privately submitted to the WBD board, adding:
“Our public offer… provides superior value, and a more certain and quicker path to completion.”
He directly challenged Netflix’s deal, warning:
“WBD’s board is pursuing ‘an inferior proposal which exposes shareholders to a mix of cash and stock, an uncertain future trading value of the Global Networks linear cable business, and a challenging regulatory approval process.”
He concluded firmly:
“We are taking our offer directly to shareholders to give them the opportunity to act in their own best interests and maximize the value of their shares.”
Implications for Warner Bros., DC, and Hollywood
If Paramount’s offer succeeds, it could significantly reshape the future of Warner Bros., affecting DC films, TV shows, and streaming content. Consequently, fans of DC properties like Batman, Superman, and Wonder Woman may see new strategies or leadership guiding upcoming projects.
Industry analysts point out that this bidding war demonstrates how valuable traditional studios remain in the streaming era. Netflix, despite its massive reach, faces competition from legacy players like Paramount who are eager to strengthen their content libraries and global influence.
This rivalry also signals a new chapter in Hollywood mergers and acquisitions, where shareholders and creatives alike have a significant voice in determining the fate of beloved franchises.
With Paramount now openly challenging Netflix, the fate of Warner Bros. and DC properties is uncertain. The broader entertainment landscape is also at stake. Fans and industry insiders will be watching closely as this high-stakes bidding war unfolds. The outcome could shape the future of Hollywood for years to come.
Stay tuned for the latest updates on DCU’s upcoming projects, and subscribe to DC Updates’ YouTube channel.