The competing bids reflect different strategic visions. Paramount’s proposal targets acquisition of the entire company, while Netflix has focused on selected entertainment assets, including streaming platforms and major content libraries. Netflix’s cash offer is valued at approximately $27.75 per share, representing a total transaction value near $82.7 billion when accounting for net debt.
Analysts say the structure of the offers complicates direct comparison. Research notes from financial market firm Morningstar Inc. suggest shareholder returns may depend on post-transaction debt levels, valuation of the proposed Discovery Global spin-off, and long-term streaming market positioning.
Warner Bros Discovery has previously announced plans to separate its television division into a publicly traded business tentatively named Discovery Global. Market estimates suggest the standalone division could trade between $1.33 and $6.86 per share, potentially affecting the overall shareholder return profile of either acquisition bid.
