Warner Bros. Discovery stock increased by 7% on Monday after Paramount announced a hostile takeover bid, offering $30 per share for the entire company. Paramount shares also saw gains, rising 1.9% following the announcement.

Last week, Netflix had won a bidding process for certain Warner Bros. Discovery assets, but its stock fell 2.8% after the latest developments. On Thursday, Warner Bros. Discovery said it had accepted Netflix‘s $82.7 billion offer to acquire the half of the company that includes its streaming and studio divisions. This transaction is set to occur after Warner Bros. Discovery splits into two separate entities, a move expected in the third quarter of 2026. Netflix‘s proposal would pay shareholders $27.75 per share.

However, on Monday morning, Paramount presented a competing all-cash offer of $30 per share for the entire company, which is $18 billion higher than Netflix‘s bid. The total value of Paramount‘s offer is $108.4 billion, according to the company. Warner Bros. Discovery is now required to present this new offer directly to its shareholders.

David Ellison, CEO of Paramount Skydance, is expected to discuss the takeover bid during a conference call on Monday. In a statement, Ellison said, “WBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company. 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.”

Meanwhile, Netflix Co-CEOs Greg Peters and Ted Sarandos are scheduled to speak at the UBS 2025 Global Media and Communications Conference on Monday, where they are expected to address both their bid for Warner Bros. and Paramount‘s counteroffer.

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