Warner Bros. rejects Paramount’s $20/share takeover bid as too low

**Warner Bros. Rejects Paramount’s $20/Share Takeover Bid as Too Low**

*By Akash Pandey | October 12, 2025, 10:59 AM*

Warner Bros. Discovery has turned down an initial takeover offer from Paramount Global, considering the proposed $20 per share bid too low. According to Bloomberg News, Warner Bros. rejected the offer in recent weeks, prompting Paramount to explore alternative strategies to pursue the acquisition.

### Paramount Weighs Next Steps

Paramount is now evaluating various options to move forward, including potentially raising its bid or seeking financial backing from partners such as Apollo Global Management. Under CEO David Ellison’s leadership, Paramount is also contemplating going directly to Warner Bros.’ shareholders to pressure the company into accepting the offer.

CNBC recently reported that ongoing talks between the two companies remain stalled over disagreements on price. Making the offer public and addressing shareholders directly could be a tactic Paramount employs to advance the deal.

### Market Snapshot

As of last Friday, Warner Bros.’ shares closed at $17.10, valuing the company at approximately $42.3 billion. Paramount’s shares stood at $17 each, giving it a market cap of around $18.6 billion.

### Leadership and Strategic Moves at Paramount

David Ellison, son of billionaire Larry Ellison, took the helm of Paramount in August following an $8 billion merger with his production company, Skydance Media. Paramount’s portfolio includes CBS, Nickelodeon, MTV, and its iconic film studio.

In efforts to strengthen its bid for Warner Bros., Paramount has been in discussions with alternative asset manager Apollo Global Management for potential financial support.

### Warner Bros.’ Planned Business Split

Meanwhile, Warner Bros. is preparing to split into two separate businesses: one focusing on cable TV and the other on streaming and studio operations. This restructuring is expected to be completed next year.

Warner Bros.’ CEO David Zaslav believes that by separating streaming and studios from the debt-heavy cable networks, the company can achieve a significant premium for these assets. Convincing Zaslav to sell before this separation occurs will be a critical hurdle for Ellison and Paramount.

—

The evolving negotiations between Warner Bros. Discovery and Paramount Global highlight the complexities of major media consolidations amid changing market dynamics and strategic realignments.
https://www.newsbytesapp.com/news/business/paramount-s-20-per-share-offer-for-warner-bros-rejected/story