Paramount fights against the sale of Warner Bros. to Netflix

The planned sale of Warner Bros. to Netflix for $82.7 billion is causing behind-the-scenes strife. Paramount is trying to stop the deal, claiming to have submitted a higher and more secure offer. There is also political opposition. The situation illustrates how fierce competition has become in the film and streaming market and how crucial a studio like Warner Bros. remains for the future of the industry.

Paramount sees Warner Bros. as a strategic core for growth, brand rights, and a globally sought-after film library. The attempt to block the acquisition isn't solely based on numbers. It's about market positions, power dynamics, and the question of how much influence large tech and streaming companies will have in the future. The conflict surrounding Warner Bros. thus exemplifies the pressure currently prevailing in the industry.

Netflix acquires Warner Bros – and Paramount disagrees

On December 5, 2025, Warner Bros. announced a deal with Netflix for the streaming service to acquire the entire company. However, regulatory approval was still pending. Immediately after the announcement, President Trump indicated that the deal "could be a problem." The acquisition would give Netflix access to brands such as DC, HBO, and a vast film library.

Paramount's counter-offer and the criticism of its approach

This is precisely where Paramount comes in. According to CNN, the company is approaching Warner Bros. Discovery (WBD) shareholders to try and stop the transaction. CEO David Ellison explains that Paramount has made a higher offer. The offer is reportedly $30 per share (a total of $108 billion) and is entirely in cash. Netflix is offering $27.75 per share (around $83 billion), and its own model is not entirely cash-based.

Ellison criticizes WBD's board for accepting the Netflix offer without consulting shareholders. He emphasizes that shareholders have the right to review the "superior cash offer." In his view, the board is pursuing a proposal that is inferior to Paramount's own offer.

Political backing and additional tensions

According to BBC News, Ellison reported having had "great talks" with President Trump about the deal. From his perspective, Netflix as the owner would be "anti-competitive" and "a terrible deal for Hollywood." The Ellison family's connection to Trump plays a role in this. Larry Ellison, David's father, had previously received Trump's support in negotiations for the US rights to TikTok. Trump has repeatedly referred to David Ellison as a "great man.".

Netflix's strategy for increasing value

Netflix counters this, pointing to its restructuring plans. The streaming provider intends to spin off Warner Bros. Discovery's cable operations. This move is expected to increase share price and offset the difference to Paramount's higher cash offer. Netflix believes this strategy will be more attractive to shareholders in the long run than a direct cash sale.

Timeline and additional complexity

Regardless of the current dispute, it is considered certain that the acquisition would not be completed until the end of 2026 at the earliest, pending regulatory approval. Warner Bros. Discovery is simultaneously preparing to spin off its international business unit, Discovery Global, which will be established as a separate, publicly traded company. This additional process complicates the entire procedure.

The showdown between Paramount and Netflix

Paramount is attempting to block the sale of Warner Bros. to Netflix, citing a higher and clearly structured cash offer. Netflix is pursuing a long-term strategy with restructuring measures designed to increase the value of the acquisition. The decision rests with shareholders and regulators. Its outcome will significantly influence the shifting balance of power in the film and streaming markets. The conflict highlights the high stakes for the companies involved and the role Paramount intends to play in this competitive landscape. (Image: Shutterstock / Grand Warszawski)