Warner Bros. Again Rejects Latest Paramount Hostile Takeover Bid

‘The Board determined that the Netflix merger remains superior to [Paramount’s] amended offer,’ a letter to shareholders reads.

Netflix and Warner Bros. Discovery logos, in this illustration created on Dec. 5, 2025. Dado Ruvic/Reuters

The Warner Bros. Discovery board recommended on Jan. 7 that shareholders reject Paramount Skydance’s hostile takeover bid.

For months, several companies had engaged in a contentious bidding process to buy the entertainment empire, but Netflix prevailed.