Warner Bros Rejects Paramount Skydance’s $20 Per Share Takeover Bid as Too Low

Warner Bros Discovery has reportedly turned down Paramount Skydance’s initial takeover offer, calling it undervalued, according to a Bloomberg News report on Saturday. Sources familiar with the matter revealed that Warner Bros rejected the proposal of around $20 per share, deeming it insufficient given the company’s market position and long-term potential.

The report indicated that Paramount Global, under the leadership of David Ellison, is determined to pursue its acquisition ambitions despite the setback. Paramount is said to be weighing several strategies, including raising its offer, directly appealing to Warner Bros shareholders, or securing additional financial backing from partners to strengthen its proposal.

Earlier this week, Bloomberg also reported that Paramount has been in discussions with Apollo Global Management, a major alternative asset manager, about potentially financing its bid. Such backing could provide the capital necessary to make a more attractive offer for Warner Bros Discovery, one of Hollywood’s largest entertainment and media conglomerates.

David Ellison officially took control of Paramount Global in August 2025 after completing an $8 billion merger with his own company, Skydance Media. This merger positioned Skydance as a formidable player in the global entertainment industry, with ambitions to challenge competitors like Warner Bros Discovery and Disney.

Both Paramount and Warner Bros declined to comment on the reported negotiations. Industry analysts suggest that a revised offer could still be on the horizon, as Paramount seeks to expand its content library, streaming footprint, and film production capabilities through a high-profile acquisition of Warner Bros Discovery.

If successful, this deal could reshape the entertainment landscape, merging two major Hollywood powerhouses into a single, dominant force in film, streaming, and television.