Not Giving Up, Paramount Strengthens Its Acquisition Offer for Warner Bros. Discovery

Paramount Skydance Corporation revised its acquisition offer of US$30 (Rp503 thousand) per share paid in full cash, while adding funding guarantees to address Warner Bros. Discovery (WBD) doubts.

In its official statement, Paramount confirmed its commitment to acquire 100 percent of WBD's shares and take over all assets and liabilities of the giant media company.

"Paramount has repeatedly demonstrated its commitment to acquiring WBD. Our full cash offer of 30 US dollars per share is the best option to maximize value for WBD shareholders," said David Ellison, Chairman and CEO of Paramount in an official announcement.

The revised offer includes a personal guarantee from Larry Ellison, founder of Oracle and controlling shareholder of Paramount, who will provide a personal guarantee worth 40.4 billion US dollars (Rp677.4 trillion) to ensure that the acquisition funding is truly secure.

In addition, Paramount also increased the cost of canceling transactions due to regulatory constraints to 5.8 billion or equivalent to Rp. 97.2 trillion.

Paramount said this step was taken even though WBD had not expressed similar objections during the initial stage of negotiations, before finally choosing another deal with Netflix.

"Because of our commitment to investment and growth, our acquisition will be superior for all WBD stakeholders, as a catalyst for greater content production, more film production, and more choices for consumers," Ellison said.

As part of the revision, Paramount extended the period for the purchase of shares until January 21, 2026. As of December 19, 2025, approximately 397 thousand WBD shares have entered this offer scheme.

Paramount is also encouraging WBD shareholders to consider the offer and convey their choices to the WBD board of directors.