Battle for Warner Bros: Paramount vs Netflix

Warner Bros. Discovery is weighing a new takeover proposal from Paramount, despite expressing a preference for a competing offer from Netflix to its shareholders. On Tuesday, Warner disclosed that it had received a revised proposal following a seven-day window that allowed for renewed discussions with Paramount, which has confirmed the submission of a revised bid though it didn't reveal further details. Industry expectations suggest a potential increase in the offer price.

A takeover of Warner Bros. Discovery would have significant implications for Hollywood and the broader media environment, especially with crucial properties like HBO Max and 'Harry Potter' at stake. Additionally, the victor in the Netflix versus Paramount competition could potentially bring CNN under new management.

While Paramount's bold USD 77.9 billion all-cash offer aims to acquire Warner Bros. entirely, including prominent networks like CNN and Discovery, Netflix's interest lies solely with Warner's studio and streaming operations, for which it has bid USD 72 billion. These contrasting bids highlight the strategic decisions facing Warner's stakeholders as they weigh transformative offers from two media giants.