Netflix and Paramount in Billion-Dollar Battle to Acquire Warner Bros Discovery

The battle for control over Warner Bros Discovery (WBD) has become the most spectacular consolidation process in the history of modern media. Although Netflix seemed to be the certain winner after submitting an offer worth $83 billion, WBD's management unexpectedly opened the door for a counteroffer from the Paramount Skydance group, led by David Ellison. Netflix, represented by co-CEO Ted Sarandos, made a strategic gesture, giving the competition seven days to present final terms. Experts interpret this move as a display of confidence from the streaming market leader, which has sufficient cash reserves to outbid any rival offer if necessary. However, the stock market situation remains tense, and Netflix's share price recorded declines amid uncertainty about the final purchase price. Warner Bros. was founded in 1923 and for decades formed the foundation of the studio system in Hollywood. The current merger with Netflix would symbolically mark the end of the era of traditional studios' dominance over new digital distribution technologies.Opposing the merger with Netflix is legendary director James Cameron. In a letter to the U.S. Senate, he warned that the acquisition of such a powerful studio by a streaming giant would be "catastrophic" for traditional cinemas. Cameron argues that Netflix's business model will lead to massive job losses and weaken the export of American film culture. In response to these allegations, Ted Sarandos assures that he plans to maintain a 45-day theatrical window for major releases, which is intended to support the exhibition industry. Meanwhile, the U.S. Department of Justice has already begun consultations with cinema network operators, investigating whether the transaction violates fair competition rules. 83 billion USD — is the record offer from Netflix for Warner Bros studio Within Warner Bros Discovery itself, employee sentiment has shifted. While there was initial fear of Netflix's dominance, many employees now prefer the streaming offer over Paramount's proposal, fearing the latter would require the buyer to take on risky loans. Crucial to the fate of the transaction will be the shareholders' general meeting, where investors will decide which vision for the company's future is more profitable. If Paramount does not present a crushing offer by Monday, Netflix will likely finalize the purchase, becoming the owner of a catalog including brands such as HBO, CNN, and the DC Comics universe. „Allowing Netflix to buy a studio will deal a catastrophic blow to cinemas and weaken an essential gear in the Hollywood machinery.” — James Cameron Liberal media emphasize benefits for subscribers and the modern digital distribution model proposed by Netflix. | Conservative media focus on the threat to traditional cultural values and potential monopolistic abuses.2026-02-18: 82.50, 2026-02-19: 78.00, 2026-02-20: 77.20