Exclusive | Paramount Skydance’s David Ellison meets with Trump officials as Netflix makes highest bid for WBD: sources

Paramount Skydance chief David Ellison engaged in discussions with Trump officials and key lawmakers in Washington DC on Wednesday to advocate against Warner Bros. Discovery potentially choosing Netflix as its merger partner – even as Netflix submitted a higher offer in the latest bidding round, according to sources.

Netflix’s bid of $28 per share surpassed Paramount Skydance’s bid for the entire company, which was valued in the $26 to $27 range. The current status of the third-round bidding remains uncertain, but Paramount Skydance officials argue that Netflix’s offer should be discounted due to the uncertainties it presents.

Despite Paramount Skydance’s mounting concerns about its bid, there is a belief among senior executives that Warner Bros. Discovery is leaning towards selecting Netflix as the preferred bidder. Paramount Skydance has hinted at the possibility of a hostile bid for Warner Bros. Discovery, citing risks associated with the Netflix deal.

David Ellison, along with his legal team led by Makan Delrahim, Trump’s former DOJ antitrust chief, visited Washington to discuss antitrust concerns surrounding Netflix’s proposed acquisition of Warner Bros. studio and HBO Max streaming service with government officials and lawmakers.

The potential combination of Netflix and HBO Max, along with a leading studio, has raised concerns about monopolistic power in the streaming space. Ellison’s efforts in Washington mark a critical point in the ongoing negotiations and political maneuvering surrounding the deal.

The Ellisons’ ambitious plans to acquire Warner Bros. Discovery may face challenges as Warner Bros. Discovery’s board appears inclined towards Netflix’s bid, despite opposition from the Trump administration. Netflix has hired legal representation to address concerns about monopolistic pricing power in the streaming market.

As the bidding process continues, it remains to be seen how the competing offers from Paramount Skydance, Netflix, and other bidders will shape the future of Warner Bros. Discovery. The Ellisons’ efforts to secure a deal may face hurdles as the situation unfolds.

With ongoing negotiations and regulatory scrutiny, the outcome of the bidding war for Warner Bros. Discovery remains uncertain. The potential acquisition of Warner Bros. studio and HBO Max streaming service by Netflix could have far-reaching implications for the media industry.

As the Ellisons and other bidders navigate the complexities of the deal, the future of Warner Bros. Discovery hangs in the balance. The final decision on the merger partner will have significant implications for the media landscape.

As the bidding process unfolds and the fate of Warner Bros. Discovery hangs in the balance, the Ellisons and other key players are engaged in a high-stakes battle for control of the media conglomerate. The coming days will be crucial in determining the outcome of this multimillion-dollar deal.