Warner Bros - Paramount - Netflix deal: Warner Bros Discovery Stands With Netflix as Paramount Bid Is Rejected — Bidding War Escalates

Warner Bros - Paramount - Netflix deal

Warner Bros Discovery has officially rejected Paramount’s $108.4 billion hostile takeover bid, choosing instead to reaffirm its earlier agreement to be acquired by Netflix — a decision that instantly escalated the entertainment industry’s biggest corporate fight of 2025.

Paramount’s offer, pitched as a superior all-cash deal, was taken straight to Warner Bros shareholders after the board declined to engage. The company continues to argue that its $30-per-share bid outshines Netflix’s largely cash-plus-equity structure and may even raise the offer again. But Warner’s board insists that, after review, the Netflix deal remains the preferred strategic option.

Regulators are already circling. President Donald Trump publicly warned the Netflix acquisition “could be a problem,” signaling a tough antitrust process ahead. Even so, Netflix leaders maintain confidence that their deal will pass.

For African creators and streamers, the stakes are high. A Netflix-led takeover could expand local commissioning and accelerate continental distribution, while a Paramount victory might preserve broader licensing opportunities for regional broadcasters and emerging African platforms.

Shareholders now face a tight clock as the industry braces for what analysts expect to be a months-long, two-front bidding war — one fought in boardrooms and another in global content markets where Africa is rapidly becoming impossible to ignore.