Paramount throws big financial wrench into Netflix’s plan to buy part of WBD
Last Friday’s news that Netflix entered into an agreement to buy part of Warner Bros. Discovery did not come without its critics and opposition like Paramount Skydance.
On Monday, things got even more heated as Paramount Skydance (TV rights media partners with TKO for UFC, boxing and PBR events) entered a “hostile bid” to acquire all of WBD (AEW’s media partner) for $108.4 billion — the equivalent of a $30 per share offer — up from Netflix’s offer of $27.75 per share for solely the WB production studios, IP like DC Comics and Harry Potter, HBO and the HBO Max service.
Paramount Skydance head David Ellison said in a company release that their offer has “faster regulatory certainty to close” and their offer is “pro-consumer, pro-creative talent and pro-competition.” Of note, the Ellison family are friendly with U.S. President Donald Trump and part of the group joining the Paramount bid is a firm founded by the President’s son-in-law in addition to wealth funds in Saudi Arabia, Qatar and Abu Dhabi to the tune of $24 billion.
Their offer is also all cash which Ellison noted he was told “repeatedly” by the WBD Board that they wanted. Any deal would first need to be accepted by the WBD Board and then would be subject to regulatory approval.
WBD would pay Netflix $2.8 billion if it accepted this offer with Netflix paying WBD $5.8 billion if their deal didn’t go through.
How does this affect AEW?
For wrestling fans, this is the biggest question. A Netflix deal seemingly wouldn’t affect AEW in the short term outside their simulcast streaming deal on HBO Max in addition to pay-per-view purchase availability.
The current AEW/WBD deal runs through 2027 with a possible extension year through 2028, covering both TBS, TNT and the HBO Max simulcast.
A Paramount/Skydance deal would bring TBS and TNT under their tent in addition to HBO Max. There is no wrestling on Paramount Plus or within the Paramount TV universe currently while Netflix has a multi-year deal with WWE.
Paramount also doesn’t offer pay-per-view capabilities, but they also didn’t lay out what they would do with two streaming services if their deal goes through.
As was the case Friday, there is a long way to go before this entire situation resolves itself.
Since 2011, Josh has been a contributing editor to Wrestling Observer/F4WOnline.com and also hosts the Punch-Out podcast. He has also written for Fight Magazine, Bloody Elbow, Bleacher Report, and other websites. He's a 2000 graduate of the University of Maine, worked in pro sports, and once was an indie ring announcer.