Billion-Dollar Bidder Banks on Ninth Time’s the Charm For WBD Buyout
KEY POINTS
- •David Ellison’s Paramount Skydance recently changed its $30-per-share, $108 billion Warmer Bros. Discovery bid without increasing price, adding $650 million quarterly fees.
- •Paramount offered to cover Netflix’s $2.8 billion breakup fee and up to $1.5 billion in refinancing costs to sweeten its all-cash proposal.
- •WBD shareholders must decide by February 20 whether to accept Paramount’s offer or Netflix’s $27.75 per share deal without cable channels.
David Ellison, CEO of Paramount Skydance, insists the ninth time’s the charm to buy Warner Bros. Discovery (WBD), despite eight previous rejected attempts. His latest $30-per-share, all-cash bid for the $108 billion WBD empire still fiddles with the fine print—offering shareholders $0.25 extra per share every quarter starting January 2027 (that’s $650 million quarterly just for waiting). Paramount will also cover Netflix’s $2.8 billion breakup fee and up to $1.5 billion refinancing costs, because why not? Ellison’s $43.6 billion equity pledge is backed by his mega-rich dad Larry, Oracle's co-founder and Trump’s ardent fan. Netflix outbids some parts at $27.75 but excludes cable channels like HGTV and TNT. Ellison texted WBD CEO David Zaslav on December 4 to remind them that no 'best and final' was included, suggesting there's more lever-pulling to come. WBD’s board has until February 20 to decide, caught in the bizarre middle of a rich family feud with political undertones, as Netflix’s Ted Sarandos also chats up Trump. Shareholders get to watch billionaires play Monopoly with airwaves, cable channels, and streaming libraries—meanwhile, we’re all stuck with reruns.
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David Ellison’s ninth offer for Warner Bros. Discovery is $30 per share plus a slow drip of billions in waiting fees — because fixing history’s worst rebound record requires patience and a $650 million carrot every quarter.
Paramount’s strategy: keep offering the same $30-per-share price but toss in $650 million quarterly like it’s candy from a trust fund grandma.
When your offer gets rejected eight times but you still refuse to raise your bid — David Ellison’s commitment to stubbornness is inspiring in a tragic way.
Source: Businessinsider | Published: 2/10/2026 | Author: James Faris
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