The Latest Breaking News from Warner

Will Paramount or Netflix win the fight for Warner? Hollywood's takeover drama is in some ways a flashback to the 1980s, in other ways quintessentially 2025.

While the Ellisons have looked to temper the president’s rage over the Marjorie Taylor Greene sitdown, they’ve also assured Donald Trump that they’d make sweeping changes at CNN if Paramount buys Warner Bros. Discovery.

The recent news that Netflix has agreed to buy part of Warner Bros Discovery (WBD) for US$83 billion (£61.8 billion), followed by Paramount Global’s hostile counterbid to acquire WBD in its entirety for US$108.4 billion (£81 billion), has triggered shockwaves through Hollywood and the wider entertainment industry.

Italy’s largest media group, MFE-MediaForEurope, has publicly thrown its support behind Paramount’s hostile bid for Warner Bros Discovery, arguing that Paramount’s offer would preserve competition in the global streaming market.

Netflix promotes itself as an innovator, but its skyhigh bid for Warner Brothers suggests that its trendsetter days have peaked.

Down almost 30% from all-time highs, Netflix stock trades at a sizeable discount to consensus price target estimates in December 2025.

Ouch, that hurts.

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David Ellison’s father has also brought up with White House officials which CNN anchors they’d like to get rid of if Paramount were to purchase Warner Bros. Discovery.

Paramount Skydance Corp (NASDAQ:PSKY) has made a hostile all-cash $108-billion bid for Warner Bros. Discovery Inc. (NASDAQ:WBD), giving rival bidder Netflix Inc. (NASDAQ:NFLX) a run for its money and turning the streaming wars into a TV drama-worthy showdown.

Warner shows, like Ted Lasso, won't be switched to Netflix if it buys the studio – but that might not be the case if Paramount is the new owner