Warner Bros. Discovery has rejected a takeover bid from Paramount Skydance for being too low, according to a Bloomberg report.
Warner Bros. rejected Paramount’s offer of around $20 per share, Bloomberg said.
Paramount, the parent company of CBS, Nickelodeon, MTV, and the Paramount film studio, is led by David Ellison, the son of billionaire Oracle founder Larry Ellison.
David Ellison took over Paramount in August after completing an $8bn merger with his film production company Skydance Media.
Paramount has been in talks with alternative asset manager Apollo Global Management about backing its bid for rival studio Warner Bros Discovery, Bloomberg News reported.
News first emerged last month that Paramount was exploring a bid for Warner Bros. Discovery.
Ellison, speaking last week at Los Angeles’ Bloomberg Screentime conference, declined to confirm that his company has bid for Warner Bros. Discovery. But he said that Paramount needed more content to grow in the streaming landscape.
Ellison said: “You actually need more content to yield more engagement. And so we would actually want to be in the business, through whatever lens we’re looking at” to produce “more movies, more television series”.
.jpg)
Expanded Future Tech to showcase the very best in innovation, technology and talent
After a successful debut in 2025, Future Tech returns to Hall 14 of the RAI this year, with more features, more innovation and more of the technologies shaping the next era of media and entertainment.
.jpg)
EU approves Paramount's WBD acquisition with conditions
The European Commission has approved Paramount Skydance’s proposed $110bn acquisition of Warner Bros. Discovery.
Netflix uses GenAI on 300 titles in 2026
Netflix has revealed that nearly 300 titles on its platform have used generative AI, from early concept stages and pre-visualisation through to post-production and release.
Poppy Dixon appointed BBC Head of Documentaries
The BBC has appointed former Sky executive Poppy Dixon as its Head of Documentaries.
Virgin Media launches AI robots to monitor TV network in real-time
Virgin Media has created its own AI robots to monitor its television network quality in real-time in a bid to quickly identify and resolve any issues when they occur.
