In a move that sent shockwaves through Hollywood and Wall Street alike, Warner Bros. Discovery’s board has turned down a jaw-dropping $60 billion takeover offer from Paramount Skydance, according to Reuters. The mostly cash proposal—valued around $24 per share—was rebuffed as Warner Bros. launched a formal strategic review to explore “multiple unsolicited interests” from several potential buyers.
Despite the rejection, insiders say Paramount Skydance remains the top contender, hinting that the curtain may not have fallen on this corporate drama just yet. The offer’s scope reflects the immense scale of Warner Bros., whose empire includes its legendary film and TV studios, CNN, HBO Max, and a portfolio of global media assets that have defined modern entertainment.
A Strategic Review Amid Industry Upheaval
The decision to reject the bid marks the start of a new act for Warner Bros., which said the review aims to maximize shareholder value in a rapidly consolidating media landscape. Paramount is not alone in circling the titan—Comcast, Netflix, Amazon, and Apple are also rumored to be sizing up Warner’s assets for possible acquisition.
Observers suggest this power play underscores the intensifying battle for content supremacy, as streaming giants and legacy studios race to dominate global screens and digital platforms.
