Warner Bros Discovery is set to urge shareholders as soon as Wednesday to spurn a $108.4 billion takeover bid from Paramount Skydance.
The consortium claims its offer is “superior” to Warner’s recent $72 billion deal to sell its film and streaming arms to Netflix, a move aimed at easing £35 billion in debt.
Affinity Partners, co-founded by Jared Kushner—President Trump’s son-in-law—has pulled out, citing “two strong competitors.” Warner Bros Discovery, Paramount Skydance, and Affinity declined BBC comment.
Financing doubts drive the rejection. Warner launched its sale process in October, striking the Netflix pact on December 5: an agreement to sell its film and streaming businesses to Netflix. Paramount Skydance followed with a full-company bid, backed by the Ellison family’s £100 billion+ fortune and Trump ties.
U.S. and EU regulators would scrutinise the deal for monopoly risks, granting the winner Warner’s vast library—including Harry Potter, MonsterVerse, Friends, and Max’s 100 million subscribers—in a market plagued by 8% quarterly churn.
The Writers Guild of America’s East and West branches oppose it, warning of wage cuts, layoffs, and less content for viewers amid Hollywood’s post-strike job losses.