Netflix & Paramount fight to acquire Warner Bros.

[Prowler]

https://www.bbc.com/news/articles/ce91x2jm5pjo

So, thoughts on this?

I personally am not a fan of monopolies. And I don't subscribe to Netflix neither do I plan on ever doing so.

[Andrew NDB]

If I'm wrong then I'm wrong but I think this will be pretty grueling, it will take a year or two and ultimately Netflix will have to walk away and it will all be a very costly affair.

Deals/acquisitions like these can be pretty grueling even when nobody really has a problem with them, let alone something like THIS one... where everyone and their mom is against it. Government, guilds, talent alike.

[neatoman]

I can't decide what's more depressing, this, Disney buying FOX a few years back or the alternate scenario of Paramount buying WB instead...

[Prowler]

I remember when several years ago there was a discussion here of the possibility of WB being acquired by Disney and thus centralising Mickey Mouse, Donald Duck, etc. and The Looney Tunes characters. It sounded like a terrible hypothetical for me.

And honestly, aren't most Netflix productions flops? How do they even make money beyond people who subscribe to their stuff? Disney and WB profited a lot for lots of other stuff like merchandise, video games, movie ticket sales, etc...

[Andrew NDB]

Originally Posted by Prowler

And honestly, aren't most Netflix productions flops?

They are, almost universally beyond a lot of disposable teenage rom-com stuff (stuff like The Kissing Booth movies, To All The Boys I've Loved Before, etc.). The thing is, they soak in such gigantically huge revenue from pure subscriptions of people just watching stuff like Breaking Bad re-runs that it doesn't matter.

In fact, Netflix (and a lot of streamers) are running kind of a gym membership scam. In a way. The best thing they can have is a bunch of people paying for monthly subscriptions who hardly ever watch anything.... but people that are happy to know that IF they did want to watch something, they COULD. This way Netflix just absorbs millions of people's subscription fees and don't have to worry about royalties or anything.

[neatoman]

[ranger_scout]

Here's why Warner Bros. Discovery went with Netflix.

https://variety.com/2025/film/column...et-1236601872/

[CyberCubed]

The overreaction over this all over the internet is very stupid. No netflix is not going to cancel James Gunn's movie universe which has 2 movies already filming and the first Superman was a success. Literally the reason netflix purchased WB in the first place was to get the money these movies will make in the box office and then on streaming.

Also, no, netflix is not canceling DC comics, they're not going to stop WB from making videogames (remember they own Mortal Kombat now, as well as Batman Arkham games and any other DC videogames from this point onward), and so forth. And yes HBO shows are now part of netflix.

This also means the upcoming Harry Potter TV show will now be a huge part of netflix, probably another reason they were so interested because Harry Potter is still huge.

[ranger_scout]

James Gunn and the CEO of Waner Bros. Discovery say the DCU films will continue to be shown on the big screen should the purchase by Netflix be completed.

https://comicbook.com/movies/news/ja...flix-purchase/

[ranger_scout]

Paramount just launched a hostile takeover offer of $108.4 billion to buy Warner Bros. Discovery compared to Netflix's bid.

https://deadline.com/2025/12/paramou...ry-1236641640/

[Andrew NDB]

Originally Posted by ranger_scout

Paramount just launched a hostile takeover offer of $108.4 billion to buy Warner Bros. Discovery compared to Netflix's bid.

https://deadline.com/2025/12/paramou...ry-1236641640/

What is hostile about that?

[sdp]

It means it's not what the CEO or board necessarily wants to do, but since it's a publicly traded company someone can buy enough shares to force the board to do something different than what leadership wanted, hence hostile. It's usually not a great tactic for various reasons including morale, costs, etc.

What's funny about this is if they win but acquired so much debt to buy WB in order for the hostile take over then in 3 years we'll see Paramount for sale since it can't make a profit and then Netflix will take it all including paramount

[IMJ]

How is that a hostile takeover?

[sdp]

I mean I didn't invent the term, they obviously don't find it friendly to go against what management wanted argue about it on wikipedia or call it corporate raid
https://en.wikipedia.org/wiki/Corporate_raid

[IMJ]

Originally Posted by sdp

I mean I didn't invent the term, they obviously don't find it friendly to go against what management wanted argue about it on wikipedia or call it corporate raid
https://en.wikipedia.org/wiki/Corporate_raid

That's not what I'm sayin' - I know what an academic "hostile takeover" is. I'm saying how does that apply here? I haven't read the article yet but I find it unlikely that Paramount went against leadership for an acquisition like this.....

[sdp]

I haven't read it either, but I mean if leadership/management chose Netflix as the winner of the bid it's safe to assume paramount plans to buy stock to force the acquisition against their will. But who knows, maybe something different is happening and the journalist is just plain retarded and doesn't know what a hostile takeover is and just made a clickbait heading.

[Andrew NDB]

From what I gather, it's like this:

* WB : "OK, everybody has until midnight on X date to send their bids in!"

* Netflix : (sends in its bid before midnight on X date)

* Paramount : (sends in its bid before midnight on X date)

* WB : After midnight on X date: "OK, Netflix's bid was higher!"

* The Media : "Netflix has WON WB!"

* Paramount : "Well hang on, we can counter-offer."

* WB : "OK, cool! We never said we wouldn't entertain subsequent offers."

* The Media : "NETFLIX HAS WOOOON WB!!!"

* Paramount : "In fact, here's our counter-offer."

* WB : "Thanks! We'll look at it."

* The Media : "NETFLIX HAS WOOOOOONNNN WB!!!!!"

[sdp]

No, that's not how things go. They go through a structured process, it's not ebay that whoever bids more wins. I'm sure management retention, warranties and break up fees all are big parts of the decision, it's not just about who will give more for shares, which Netflix has the bigger bank account btw so it's no match. They also choose whoever they think the board, who is elected by shareholders, will vote yes for. So yes, Netflix didn't just tweet out "We bought WB" thinking they wouldn't get it, it's pretty much a done deal unless regulatory bodies stop it.

I find a hostile takeover unlikely to happen, but if paramount wanted they could just buy enough shares to get rid of the board members that don't want to vote for them and put people in the board that would vote for them. In simpler terms, what happens in Spiderman 1

[ranger_scout]

Paramount promises to release 30+ films in theaters if the acquire Warner Bros. Discovery.

https://deadline.com/2025/12/paramou...es-1236641998/

Warner Bros. Discovery says it carefully look over Paramount's offer and will make a decision within 10 business days.

https://variety.com/2025/tv/news/war...id-1236603529/

[IMJ]

Yeah they have to....
These buyouts have to survive scrutiny so they are done much like RFP's for government. Every proposal has to be reviewed and balanced against the value proposition - not just "price".

Ironic of course because commonly the lowest bidder wins, which leaves everyone to wonder how much of the review process is purely for the optics of it.

But ultimately they have to deeply review the entire offer.