
David Ellison, the founder of Skydance Media, has launched a bid to buy Warner Bros. Discovery at $30 per share, attempting to take control from Netflix. Warner Bros.' board had already agreed to sell to the streaming giant for $27.75 per share, but Ellison decided to go directly to the company's shareholders, bypassing the board's approval. Shareholders now have until 8 January to cast their votes.
The outcome of this bid will determine who controls some of the most valuable entertainment properties, including Game of Thrones, DC films, Harry Potter, HBO, and Warner Bros. Studios. Netflix and Paramount are presenting shareholders with two radically different visions for the future of the company.