Warner Bros. Discovery rejects Paramount Skydance's hostile bid, saying Netflix's offer is superior
Updated on: December 17, 2025 / 9:36 AM EST / CBS News
TL;DR
- Warner Bros. Discovery recommends rejecting Paramount Skydance's $108.4 billion bid.
- The company favors Netflix's $82.7 billion offer for specific assets.
- Warner Bros. Discovery cited 'significant risks and costs' associated with the Skydance bid.
- Netflix's offer is considered superior due to its financial strength, including a larger market capitalization and better credit rating.
- Concerns were raised about the equity commitment and debt financing plan of Paramount Skydance.
- Affinity Partners, a financial partner in the Skydance deal, has withdrawn its support.