The battle for Warner Bros. is not over yet. After Netflix announced on Friday that it would buy the majority of the Warner Bros. entertainment assets, Paramount on Monday announced that it would offer billions more to buy the entirety of Warner Bros. Discovery as part of a hostile takeover bid.
Specifically, Paramount is offering $30 per share, compared to $27.75 from Netflix. That works out to $18 billion more in cash than Netflix. Additionally, Paramount wants to buy the entirety of WBD, not just the majority of the key entertainment assets that Netflix is proposing to buy.
Paramount’s $30-per-share offer works out to a total enterprise value of $108.4 billion, which Paramount said is a 139% premium on where the company was trading at in September 2025. The value of Netflix’s offer was $82.7 billion.
