A New Stage in the Fight for Warner Bros. Discovery

Warner Bros. Discovery rejects Paramount’s hostile bid

The board of Warner Bros. Discovery announced today that it has formally rejected the hostile takeover proposal put forward by Paramount Global. In a detailed statement, the company said the offer “does not reflect the long‑term value of our combined assets” and fails to meet the strategic objectives set by its shareholders.

Questioning the alleged political advantage

Beyond the financial terms, Warner Bros. Discovery also challenged the purported political leverage that Paramount claims would accompany the deal. “We are not convinced that any political benefit outweighs the risks of surrendering our independence,” the statement read, adding that the company will continue to pursue its own growth strategy without external pressure.

Market reaction and next steps

Shares of Warner Bros. Discovery rose modestly after the announcement, while Paramount’s stock slipped amid speculation about the viability of its aggressive approach. Analysts suggest that the standoff could lead to further negotiations, but the board has made it clear that any future proposal must be “substantially better” and respect the company’s governance standards.