Paramount’s David Ellison Launches Hostile Bid for Warner Bros.
BREAKING: Paramount Skydance CEO David Ellison has just announced a hostile bid for Warner Bros. Discovery (WBD), escalating the battle with Netflix co-CEOs Ted Sarandos and Greg Peters. Ellison’s bold move comes in the wake of Netflix’s earlier proposal, positioning Paramount as a serious contender in the entertainment landscape.
In a memo sent to Paramount employees at 3 p.m. ET today, Ellison emphasized the significance of the $30-per-share all-cash offer, claiming it outmatches Netflix’s bid of $27.75. “We believe the combination of Paramount and Warner Bros. Discovery represents a powerful opportunity to strengthen both companies and the entertainment industry as a whole,” Ellison stated, urging his staff to support the initiative.
The memo reveals Ellison’s strategy to appeal directly to investors, asserting that a Paramount-WBD merger would create a “scaled, forward-looking company” capable of challenging industry giants like Netflix and YouTube. He passionately argued, “Our motivation for pursuing Warner Bros. Discovery has been consistent from the start. We love this industry and believe deeply in its future.”
Ellison’s bid, made public earlier today, marks a significant escalation in the ongoing competition for control of Warner Bros. Discovery. By targeting both shareholders and employees, Ellison aims to rally support for his vision of an entertainment powerhouse that prioritizes storytelling as “one of America’s greatest cultural and economic exports.”
The stakes are high in this corporate clash. Ellison’s offer is presented as superior across multiple dimensions: higher overall value, clearer regulatory pathways, and a commitment to a pro-Hollywood, pro-consumer future. As the competition heats up, Netflix has countered with its own arguments, claiming that its proposal would better serve consumers and the broader entertainment ecosystem.
As this situation develops, the decision lies in the hands of Warner Bros. Discovery shareholders. Ellison’s memo is a clarion call for unity among Paramount employees, urging them to remain focused on their priorities while the bidding war unfolds.
The next steps will be crucial as both parties prepare to navigate the complexities of this high-stakes negotiation. Ellison has pledged to keep his team updated on significant developments, highlighting the urgency and importance of their mission.
Stay tuned for further updates on this unfolding story as the battle for Warner Bros. Discovery intensifies.
