Netflix buys Warner Bros. but Paramount relaunches with hostile bid

Three strengths :

1) Warner’s catalogue is historically and qualitatively very interesting.

2) the number of subscribers : Warner has 130 million subscribers (Reuters). Netflix has more than 300 million subscribers (a total of 430 million).

3) Warner is strong in gaming with $1 billion in sales (Reuters).

Then there are Netflix’s popular series. The deal will have to be scrutinised by the US Federal Trade Commission (antitrust), but above all, the agreement is hated by Donald Trump, friend of David Ellison – Larry’s son – who, with Paramount, has launched a hostile bid on Warner for $108 billion (New York Times).

There has been a lot of confusion about the purchase value of $72 billion (correct figure), not to be confused with the global enterprise value of the acquired group of almost $83 billion.

Compiled 5 December, updated 8 December 2025