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Paramount Skydance makes bid for all of Warner Bros. Discovery valued at $108 billion

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Paramount Skydance makes bid for all of Warner Bros. Discovery valued at 8 billion


Paramount Skydance on Monday made a $108.4 billion hostile takeover offer for all of Warner Bros. Discovery, with its all-cash bid coming just three days after Netflix agreed to buy a part of Warner Bros. in a deal valued at $82.7 billion.

Warner Bros. Discovery “shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company,” Paramount Skydance CEO David Ellison said in a statement. 

“Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion,” he said.

Paramount Skydance is the parent company of CBS News.

The new offer steps up the battle over the future of Warner Bros. Discovery, which on Friday agreed to a deal with Netflix under which the streaming giant would acquire Warner’s streaming and movie assets. Warner Bros.’ storied film library includes classics like “Casablanca” and the “Harry Potter” film series. 

Paramount Skydance said its offer is a better deal for Warner shareholders because it includes the entirety of Warner Bros. Discovery, including its cable television channels such as CNN, TBS, TNT and The Food Network. The transaction would also have an easier path through the regulatory process than Netflix’s offer, according to Paramount. 

“Paramount is highly confident in achieving expeditious regulatory clearance for its proposed offer, as it enhances competition and is pro-consumer, while creating a strong champion for creative talent and consumer choice,” the company said in a statement.

Paramount Skydance’s offer includes the cost of absorbing Warner Bros. Discovery’s debt, which as of September 30 was more than $33 billion, a regulatory filing shows. The all-cash $30 per share offer amounts to nearly $78 billion. Excluding Warner Bros. Discovery’s debt, Netflix’s bid for the company comes to roughly $72 billion. 

Potential antitrust hurdle

Some Wall Street analysts have said the Netflix-Warner Bros. combination could raise concerns among U.S. antitrust enforcers because of the streaming service’s size and the potential to reduce competition in the media space. 

“Because Netflix is positioned as the largest streaming platform, the company’s acquisition of HBO Max services and customers raises red flags,” said Jeffrey May, managing editor for the Insights & Enrichment team within Wolters Kluwer Legal and Regulatory U.S., in an email. 

May added, “Netflix and HBO Max compete for subscribers. Their combination could be seen as a threat to competition and innovation.”

President Trump also signaled the Netflix-Warner Bros. deal could face hurdles, saying on Sunday that the combined company’s size “could be a problem.” Mr. Trump also said he would be involved in any decision about whether the federal government should approve the deal.

Usha Haley, a Wichita State University professor who specializes in international business strategy, told the Associated Press that Paramount’s ties to Mr. Trump are notable. Paramount CEO David Ellison is the son of Larry Ellison, who leads software maker Oracle Corp. and is an avowed supporter of Mr. Trump. 

Mr. Trump “said he’s going to be involved in the decision — we should take him at face value,” Haley said. “For him, it’s just greater control over the media.”

Netflix declined to comment, while Warner Bros. Discovery didn’t immediately respond to a request for comment.

Shares of Warner Bros. Discovery jumped $1.65, or 6.3%, to $27.72 in early trading on Monday, while Paramount Skydance shares rose 78 cents, or 5.8%, to $14.14. Netflix’s stock slumped 4.9% to $95.64.

Paramount Skydance’s tender offer is set to expire on Jan. 8, 2026, unless it is extended.

Impact on streaming

Netflix, which has more than 300 million subscribers, is the world’s largest streaming service, according to David R. King, a professor of management at Florida State University.

Warner Bros. Discovery’s streaming platforms, which include HBO Max and Discovery+, rank as the fourth-largest with 128 million subscribers, followed by Paramount+ at No. 5, with 78 million customers, he added. Amazon Prime Video and Disney/Hulu rank as No. 2 and 3, respectively.

The prospect of more media industry consolidation has prompted critics such as Sen. Elizabeth Warren, a Democrat from Massachusetts, to speak out against the Netflix-Warner Bros. deal. In a statement on Friday, Warren said the combination would “create one massive media giant with control of close to half of the streaming market.”

Netflix is likely to argue that other video platforms, such as YouTube should be included in calculating streaming services’ market share, according to The Guardian. 

The bidding war follows Warner Bros. Discovery’s announcement in June that it planned to split into two businesses, separating its cable networks from its streaming and studios business.

But in October, the media conglomerate said it had attracted interest from companies about buying all or parts of it outright, with the Wall Street Journal reporting that media and entertainment businesses, including Netflix, Paramount Skydance and Comcast, were pursuing a deal.

Warner Bros. Discovery shareholders “will have to choose between [Paramount Skydance’s] straight $30-a-share cash offer and Netflix’s slightly lower, more complex bid with a linear networks spin-off, both carrying serious antitrust questions,” David O’Hara, managing director at market research firm MKI Global Partners, said in an email.



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Jimmy Kimmel roasts Donald, Melanie Trump even after warning

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Jimmy Kimmel roasts Donald, Melanie Trump even after warning


Jimmy Kimmel roasts Donald, Melanie Trump even after warning

Jimmy Kimmel is pressing ahead with jokes about President Donald Trump and first lady Melania Trump, brushing off White House pressure and calls for him to be taken off air.

On his Monday, 4 May, show, Kimmel took aim at the president’s late-night posting activity on Truth Social, singling out a photo Trump shared of his wife. 

“At 11:04, he posted this even more unbelievable picture of Melania smiling,” Kimmel said to laughter from the studio audience. 

“I don’t know the last time we saw that.” 

He also picked up on Trump’s weekend remarks at a Florida retirement community, where the president claimed Melania “hates” when he dances on stage to Y.M.C.A. by the Village People, which Trump called “the gay national anthem.” 

“Melania hates when you do things? No way!” Kimmel quipped. “What a buzzkill.”

The jokes come as Kimmel finds himself in the middle of a serious escalation with the White House. 

The dispute flared after a 23 April episode in which he described Melania as having “a glow like an expectant widow.” 

Two days later, a gunman rushed security at the White House Correspondents’ Association Dinner. 

The suspected shooter, 31-year-old Cole Tomas Allen, was subsequently charged with attempting to assassinate the president.

Melania, who had attended the dinner, made a rare public statement ahead of the court appearance, directly criticising Kimmel. 

“People like Kimmel shouldn’t have the opportunity to enter our homes each evening to spread hate,” she wrote on X. 

“Enough is enough. It is time for ABC to take a stand.” 

White House communications director Steven Cheung called Kimmel a “s— human being” and said he should be fired “immediately.”

Kimmel defended the original remark, describing it as an “obvious” joke about the age gap between the president, 79, and the first lady, 56. 

He also addressed Melania directly, expressing genuine sympathy about the scare at the dinner. 

“I am sorry that you and the president and everyone in that room on Saturday went through that. I really am. Just ’cause no one got killed doesn’t mean it wasn’t traumatic and scary.”

Trump himself weighed in during a Newsmax appearance, calling Kimmel “a lowlife, whether he apologized or not” and saying he “shouldn’t be on television.” 

The president had previously threatened to “test” ABC after the network briefly suspended Kimmel in September over remarks about the killing of conservative activist Charlie Kirk.

ABC and its parent company Disney are facing mounting pressure from the administration. 

The Federal Communications Commission last week ordered a review of ABC’s station licences, citing a probe into possible violations of federal law and FCC rules at local ABC stations.





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Longtime entertainment publicist was 82

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Longtime entertainment publicist was 82


Audrey Beth Davis dies: Longtime entertainment publicist was 82

Audrey Beth Davis, the veteran entertainment publicist who helped shape the public image of some of the most iconic shows in television history, has died at the age of 82. 

She passed away from natural causes on 1 May in Pennsylvania, surrounded by her family, friends, and those who cared for her. 

Having spent decades at the heart of the industry, Davis was a well-respected figure known for her work on legendary series like The Golden Girls and the Law & Order franchise.

Born in Brooklyn in 1943, Davis started her career in television production on the panel game show The Match Game before finding her true calling in public relations. 

After joining Stone Associates in the late 1970s, she was later recruited by Dick Lippin to join his new venture, which eventually became The Lippin Group in 1986. 

Throughout her long career, she handled the publicity for a massive range of hits, from the light-hearted charm of The Love Boat and Empty Nest to the high-stakes drama of the Law & Order spin-offs and the major CBS miniseries Scarlett.

Davis remained a fixture at The Lippin Group until her retirement in 2008, earning a reputation for her professionalism and deep understanding of the TV landscape. 

She is survived by her sisters, Rhonda and Sharon, as well as a large extended family of nieces, nephews, and great-nieces and nephews. 

Her loss is felt deeply by her former colleagues and the many friends she made throughout her years in Hollywood.

For those wishing to pay their respects, a memorial service has been scheduled for 12:00 pm on 14 May at the Edward J. Kuhn Funeral Home in West Reading, Pennsylvania. 

The family has suggested that, in lieu of flowers, donations can be made to the St. Francis Home to honour her memory. 

Her passing marks the end of an era for the many television productions that benefited from her dedicated work behind the scenes.





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AS-level Business Studies paper allegedly leaked online

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AS-level Business Studies paper allegedly leaked online


Students can be seen in an examination hall in Karachi during Cambridge exams on April 26, 2021. — X/Deputy Commissioner South Karachi

KARACHI: The AS-level Business Studies paper of Cambridge International Education (CIE) was reportedly leaked online, raising concerns over the exam security.

The incident comes days after CIE admitted that an Advanced Subsidiary (AS) Mathematics Paper 1 was leaked, saying the question paper was “shared prematurely against our regulations.”

The Business Studies paper, scheduled to be held today, was reportedly leaked and circulated online last night.

One of three examination papers circulating on social media platforms last night was the Business Studies, code “9609 Paper 1”.

In a statement issued on April 30, the CIE said: “We can confirm that Cambridge International AS Level Mathematics Paper 12 (9709), taken in our Africa, Europe, Middle East, Pakistan and South Asia regions, was shared prematurely against our regulations.”

The examination board said it was promptly and thoroughly investigating the incident to understand the extent of the leak and determine next steps regarding the compromised paper.

The CIE had said its priority remained ensuring students were not disadvantaged by the incident while continuing all possible measures to protect examination integrity and maintain confidence in awarded grades.





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