Paramount Promises Big Screen Comeback in Warner Bros Discovery Battle
The battle for Warner Bros Discovery is heating up.
Paramount Global has launched a massive $108.4 billion all-cash bid to buy the studio.
The company promises to release more than 30 films exclusively in theaters each year if it beats Netflix’s $82.7 billion deal.
Paramount’s chief executive David Ellison said the plan includes keeping traditional theater windows and putting audiences first, offering a clear alternative to streaming-first strategies.
The offer values Warner Bros Discovery shares higher than Netflix’s proposal and more than the stock’s recent closing price.
Paramount’s bid covers the entire company, including film and television studios, HBO Max, and cable networks, unlike Netflix’s deal which excludes the networks.
The bid is fully backed by cash, debt, and investments from Middle Eastern funds and Affinity Partners.
Warner Bros Discovery’s board has ten business days to respond.
Paramount plans to take the offer directly to shareholders if the board does not act.
The news sent Warner Bros Discovery shares up 11 percent in early trading, showing strong market reaction.
