The board of Warners had rejected David Ellison's revised bid earlier this week.
, arguing in a statement Thursday morning that its all-cash bid remains “superior” to the deal that WBD signed with“Our offer clearly provides WBD investors greater value and a more certain, expedited path to completion,” Paramount CEO David Ellison said in a statement.
“Throughout this process, we have worked hard for WBD shareholders and remain committed to engaging with them on the merits of our superior bid and advancing our ongoing regulatory review process.”, which included a personal guarantee from Oracle founder Larry Ellison, earlier this week, arguing that it still did not address all their concerns. In its announcement Thursday, Paramount said that it had “diligently and constructively addressed each concern raised by WBD,” pushing back on the claims made by the other company. It also included a financial analysis of the Discovery Global spinout that argued that it should have “no equity value,” but that at the very least it should trade at a discount to Versant, which began trading this week and saw its share price fall by double digits . Paramount’s decision to stand by its offer will likely mean that it will try to move forward and convince a majority of shareholders to tender their shares. The company has set a Jan. 21 date for the tender to expire, though it can extend it.Borys KitActor Awards, Formerly SAG Awards, Nominations: ‘One Battle After Another’ Leads Film Nods With 7 as ‘The Studio’ Tops TV With 5The Hollywood Reporter is a part of Penske Media Corporation. © 2026 The Hollywood Reporter, LLC. All Rights Reserved.
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