Just when it seemed Netflix had secured a deal to acquire Warner Bros. Discovery’s studio and streaming assets, a new player has aggressively entered the game.
According to a report from CNBC, Paramount is launching a hostile bid to acquire the entirety of Warner Bros. Discovery, challenging the prior agreement with Netflix. While Netflix and other suitors like Comcast were primarily interested in the studio and streaming divisions, Paramount is reportedly offering an all-cash deal of $30 per share to purchase the entire company, including its cable networks.
Paramount reportedly made this offer last week but was turned down by WBD representatives. Now, they are taking the offer directly to shareholders, arguing that keeping the company’s assets together is the best path forward. The report also notes that Paramount currently enjoys a positive relationship with the U.S. government, which they believe will help navigate antitrust concerns that have been raised by figures associated with the incoming administration.
For wrestling fans, this raises significant questions. While Netflix’s deal would have separated the cable networks (TBS and TNT) from the streaming services, a Paramount buyout would bring everything under one roof. Paramount already has a relationship with TKO, as UFC events are set to begin streaming on Paramount+ in January. It remains unclear how a potential Paramount ownership of TBS and TNT would affect AEW’s standing on those networks.
