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The High Stakes Behind the Netflix/Paramount Bidding War For Warner Bros.

Netflix and Paramount compete with offers totaling $83 billion for Warner Bros., aiming to dominate streaming with strategic growth and cost-cutting amid rising industry consolidation.

  • Last week, Netflix was reported to be involved in discussions regarding Warner Bros. studios and streaming assets, while Paramount Global launched a hostile bid for Warner Bros. Discovery including CNN.
  • Amid pressure to be profitable, buyers seek Warner Bros.' vast content libraries and subscriber bases to dominate streaming markets while bank lenders push for cost savings after large debt.
  • Observers noted Warner Bros. Discovery's unusual move in going directly to shareholders with its hostile offer, bypassing traditional corporate routes, days later.
  • Whichever platform wins, it will gain enormous control over stories sold, while consolidation would reduce bidders and shrink TV and film production.
  • If the Netflix agreement closes, it is expected to occur in 12 to 18 months, while century-spanning film libraries could train AI, echoing the Paramount Decision and antitrust scrutiny.
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Outlook Newspapers broke the news in on Friday, December 12, 2025.
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