Warner Bros Discovery is expected to reject an amended $108.4 billion hostile takeover bid from Paramount Skydance, according to a report published Tuesday by CNBC.
The anticipated rejection comes despite Paramount’s efforts to strengthen its financing package. Those efforts included a $40.4 billion personal equity guarantee from Larry Ellison, aimed at addressing concerns around deal certainty.
Neither Paramount nor Warner Bros Discovery immediately responded to requests for comment from Reuters.
Turning down the revised offer would allow Warner Bros Discovery to continue exploring an alternative cash-and-stock transaction with Netflix. The move highlights ongoing reservations over valuation, strategic alignment, and execution risk, even after Paramount attempted to improve the terms of its proposal.
Paramount previously said Ellison had agreed to personally back the equity portion of the bid, a step designed to reduce skepticism that had weighed on its earlier approach. In addition, the company increased its regulatory reverse termination fee and extended the deadline for its tender offer.
However, the core financial terms remained unchanged, with the bid still valuing Warner Bros Discovery shares at $30 per share in cash.
