- Paramount made a $108.4 billion hostile bid for Warner Bros, surpassing Netflix's offer
- Paramount offers $30 per share, higher than Netflix's $27.75 per share bid
- President Trump raised antitrust concerns over Netflix-Warner Bros merger, pledging involvement
Paramount Skydance Corp.'s takeover bid of Warner Bros., worth $108.4 billion, is seen as a hostile attempt aimed to overtake Netflix's $82.7 billion offer, which was announced last week.
According to reports, Paramount is set to take its offer directly to shareholder, while Warner Bros.' board has accepted Netflix's bid.
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As reported by Bloomberg, Paramount is offering $30 dollars a share compared to the $27.75 price point that Netflix has put on the table. Paramount's bid is also closer to the $30 a share that the Warner Bros. chair emeritus, John Malone, had cited as a “possible” price for the deal earlier.
While Netflix has looked at buying out the streaming and studio business, Paramount is eyeing to bag the whole of the company.
The equity value also slightly surpasses Netflix's $72 billion as Paramount is eying $74.4 billion shares. As things stand, Netflix may have been one step closer to the actual buyout, Paramount Chief Executive Officer David Ellison has touted his family's good relations with President Donald Trump.
Trump had on Sunday raised potential antitrust concerns for Netflix Inc.'s planned acquisition of Warner Bros. Discovery Inc., noting that the market share of the combined entity may pose problems.
“Well, that's got to go through a process, and we'll see what happens,” Trump said. “But it is a big market share. It could be a problem. Netflix has a very big market share, and when they have Warner Brothers, you know, that share goes up a lot,” the president said. Adding that he will be personally involved in the decision-making process.
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