Monday, February 23rd marks a pivotal moment in the battle for control of Warner Bros Discovery. The Paramount Skydance group has until midnight to submit its final offer, which according to unofficial information could amount to $32 per share. Meanwhile, the U.S. Department of Justice has launched an antitrust investigation into the competing $82.7 billion proposal from Netflix. The dispute is dividing the film industry, involving figures such as James Cameron and Mark Ruffalo.

Paramount's Final Deadline

David Ellison's company has until 23:59 on Monday to submit a new, higher offer for Warner Bros Discovery's assets.

Antitrust Investigation

The U.S. Department of Justice (DOJ) is formally investigating Netflix's proposed merger with WBD for potential violations of competition laws.

Hollywood Conflict

James Cameron attacks Netflix's plans, while Ted Sarandos and Mark Ruffalo defend the vision of the merger, highlighting contradictions in the director's arguments.

The competition to acquire one of the world's most valuable film libraries, Warner Bros Discovery (WBD), has reached a critical point. According to the company's board decisions, Paramount Skydance, led by David Ellison, must present its "best and final" offer by the end of the day. Analysts predict the bid could be raised to $32 per share, aiming to surpass Netflix's earlier proposal set at $27.75. Although the WBD board has previously leaned towards a merger with the streaming giant, Paramount's new proposal could shift the balance of power, especially since that company has already obtained preliminary antitrust approval. The situation for Netflix is complicated by an official investigation by the U.S. Department of Justice (DOJ). Officials are examining whether a merger with WBD would lead to a monopoly in the video content distribution market. Netflix CEO Ted Sarandos refutes these allegations, arguing that his company's acquisition of a film studio will bring growth, not stagnation, to the industry. At the same time, the company faces political pressure – the administration warns of consequences if a prominent Democratic Party politician does not step down from its supervisory board. The trend of consolidation in the U.S. media market has been ongoing for a decade, exemplified by Disney's acquisition of 21st Century Fox in 2019. Warner Bros Discovery was formed only in 2022 from the merger of WarnerMedia and Discovery, which was intended to help combat the growing dominance of streaming platforms. Hollywood icons have joined the conflict. James Cameron sent a letter to the U.S. Senate, in which he called Netflix's plans a "disaster for the movie business." Actor Mark Ruffalo responded, rhetorically asking whether the director is equally concerned about market monopolization by Paramount. Sarandos described Cameron's stance as "misleading," claiming that it is the competitor's offer that will lead to a shrinking of the film industry. Amid these tensions, WBD's stock maintains a stable course, despite general market declines due to uncertainty over trade tariffs. „We're buying a movie studio and a distribution entity that we don't currently have - we'll be adding to the market.” — Ted Sarandos Comparison of Offers for Warner Bros Discovery: Price per share: $27.75 (Netflix) → $32.00 (Paramount - estimates); Total value: $82.7 billion → approx. $95 billion; Regulatory status: DOJ investigation → Preliminary antitrust approval

Mentioned People

  • Ted Sarandos — Co-CEO of Netflix defending the WBD acquisition offer against allegations of monopolization.
  • David Ellison — Founder of Paramount Skydance, seeking to acquire Warner Bros Discovery.
  • Mark Ruffalo — Oscar-nominated actor who publicly questioned Cameron's criticism of Netflix.