Paramount Skydance launched a hostile takeover bid for Warner Bros. Discovery at $30 a share in cash on Monday, just days after the company agreed to a deal with Netflix. The offer values Warner Bros. at $108.4 billion, including debt.
The bid compares with Netflix’s offer of $27.75 in cash and stock, for an enterprise value of about $82.7 billion including debt. Paramount’s offer is for all of Warner Bros., while Netflix is interested only in the Hollywood studios, HBO and the streaming business.
Paramount CEO David Ellison has touted his family’s good relations with U.S. President Donald Trump. The president’s son-in-law, Jared Kushner, is participating in the Paramount bid through his Affinity Partners, according to financing terms unveiled Monday. Trump, who indicated that he will be involved in approval of a Warner Bros. sale, said he hasn’t discussed the topic with Kushner.
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