Paramount Skydance raises the stakes against Netflix: new bid to acquire Warner Bros Discovery

What Has Changed

Just a few days ago, Netflix seemed to have won the race with a $72–83 billion deal to acquire Warner’s film, streaming, and content assets.

Paramount controlled by the Ellison family and backed by private-equity funds linked to Jared Kushner and Middle Eastern sovereign wealth funds — decided to go further.
Its offer covers not only the studios and streaming, but the entire company: studios, TV networks, media divisions, and global operations.

According to Paramount, this proposal provides more liquidity to shareholders and offers a smoother path toward regulatory approval.

Official Statements

David Ellison, CEO of Paramount, stated that his goal is to “create a stronger Hollywood,” benefiting the industry, creators, and audiences.
He describes the offer as “pro-consumer, pro-competition, pro-content”: he promises more films in theaters and greater investment in new productions.

Regulation, Competition, and Market Reaction

Paramount’s offer comes just days after the Netflix–WBD agreement a counterbid that overturns the expected outcome.

But the road to acquisition is far from certain: the project could face significant antitrust resistance in the United States due to the sheer volume of content and networks involved.

Some analysts remain cautious: although richer, the operation may require long timelines and generate uncertainty among shareholders and regulators.

Why This ‘War’ Matters for the Future of Streaming and Entertainment

If Paramount succeeds in completing the acquisition, a new global media giant could emerge, bringing content, TV networks, cinema, and streaming under a single ownership.

This scenario would reshape the balance of power in the industry: tougher competition for Netflix, but also a potential consolidation of the media market.

A “all-in-one” structure could also accelerate content mergers, licensing strategies, global distribution, and cross-media initiatives.

In Summary

Paramount isn’t backing down, it’s raising the stakes with a full-scale, cash-forward offer for Warner Bros Discovery.

This isn’t just about numbers: it’s a strategic move that could permanently transform the global streaming and entertainment landscape.

But between competition, regulation, and financial complexity, the future remains uncertain.