New York Post·2025-12-04 22:46Core Viewpoint - Paramount Skydance is actively lobbying against Warner Bros. Discovery's (WBD) potential merger with Netflix, arguing that Netflix's higher bid poses unacceptable risks for WBD shareholders [1][3][4]. Group 1: Bidding Dynamics - Netflix has submitted a bid valued at $28 per share, surpassing Paramount Skydance's bid in the $26 to $27 range [2][13]. - Paramount Skydance is considering a hostile takeover and has indicated that Netflix's offer should be discounted due to the uncertainties it brings [2][3]. - The bidding process is ongoing, with Paramount Skydance making an all-cash bid of $25 or more for the entire company, which includes major assets like CNN and HBO [11]. Group 2: Political and Regulatory Concerns - David Ellison, CEO of Paramount Skydance, met with Trump administration officials to argue against the Netflix deal on antitrust grounds, suggesting that it would create a monopoly in the streaming space [4][10]. - Ellison's legal team has warned that Netflix's acquisition of WBD could face significant regulatory hurdles, potentially depreciating WBD's assets [15][18]. - Paramount Skydance has sent letters to WBD's board, claiming that the bidding process favors Netflix and raises concerns about conflicts of interest among decision-makers [17][18]. Group 3: Strategic Implications - The potential merger between Netflix and WBD could significantly alter the competitive landscape in the streaming industry, combining the largest streaming service with a major studio [4][12]. - Warner Bros. Discovery CEO Zaslav is reportedly warming up to Netflix's bid, despite the opposition from the Trump administration [6][15]. - Paramount Skydance's ambitions to build a media empire could be jeopardized if WBD chooses Netflix as its merger partner [5][11].