Paramount has confirmed its readiness to acquire Warner Bros. Discovery in its entirety.

Paramount remains determined to acquire Warner Bros. Discovery (WBD) at $30 per share, urging shareholders to back its bid.

On Thursday, Paramount reaffirmed its commitment to acquiring WBD, highlighting that its all-cash offer is more advantageous than WBD’s existing deal with Netflix. The company also reached out directly to WBD shareholders, encouraging their support.

Paramount’s Offer and Leadership’s Perspective

Paramount is offering $30 per share to purchase Warner Bros. Discovery, asserting that this proposal delivers maximum value to investors and promises a quicker transaction. CEO David Ellison emphasized that Paramount has consistently prioritized WBD shareholders’ interests and will continue to advocate strongly for its acquisition plan.

Ellison pointed out that Paramount’s proposal offers shareholders greater returns and a clear, efficient path to closing, including securing necessary regulatory approvals. He expressed readiness to engage further in discussions to highlight the benefits of the offer in the marketplace.

WBD Board’s Rejection of Paramount’s Bid

Earlier this week, Warner Bros. Discovery’s Board of Directors officially dismissed Paramount’s updated bid. Although the revised offer included personal guarantees from Oracle founder Larry Ellison, WBD’s management indicated that the proposal still failed to resolve key concerns.

Consequently, the board remains steadfast in its opposition despite Paramount’s additional assurances and arguments.

Paramount’s Financial Arguments and Counterpoints

Paramount reiterated in its latest statement that it has acted transparently and addressed all prior issues raised by WBD. The company also shared its financial assessment regarding a potential spin-off of Discovery Global.

Paramount’s analysis suggests that the spin-off would hold little to no equity value or might trade at a significant discount, reinforcing the notion that Paramount’s offer is more favorable for WBD shareholders.

Next Steps in the Acquisition Battle

By standing firm, Paramount signals its intention to appeal directly to Warner Bros. Discovery’s investors, aiming to secure a majority stake through a tender offer.

The current $30-per-share offer will expire on January 21, 2026, though Paramount reserves the option to extend it if needed. The ultimate outcome hinges on how WBD shareholders respond and whether they choose to support the deal despite the board’s opposition.