Analyzing the Financial and Political Strategy Behind David Ellison’s $108 Billion Hostile Takeover Bid for Warner Bros. Discovery
The bidding war for Warner Bros. Discovery (WBD) escalated into a full blown corporate and political saga on Monday, December 8, 2025, as Paramount Skydance launched an aggressive, all cash hostile takeover bid valued at $108 billion. The bid, led by CEO David Ellison, aims to derail a prior deal between WBD and Netflix. In a major and highly controversial twist, regulatory filings revealed that one of the key financial backers of the Paramount bid is Jared Kushner, the President’s son in law, injecting Trump family interests directly into one of the biggest media battles in recent history.
The immediate impact of the hostile bid and Kushner’s involvement was the creation of a massive, multi-faceted showdown. The move came just days after WBD’s board accepted an $82.7 billion cash and stock offer from Netflix. Paramount’s offer, which stands at $30 per share in all cash significantly higher than Netflix’s $27.75 per share was taken directly to WBD shareholders. David Ellison was unambiguous about the aggressive nature of the bid, telling CNBC: “We’re really here to finish what we started,” referencing the six previous proposals Paramount had submitted. Kushner’s investment firm, Affinity Partners, is listed in the filings as a financial backer, alongside sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi.
The strategic complexity of the bid centers heavily on the issue of regulatory approval. Paramount, though a smaller company than Netflix, is betting that its bid which proposes combining cable channels like CNN and TNT with CBS, MTV, and other assets will be viewed more favorably by antitrust regulators. David Ellison has repeatedly argued that a combined Netflix and WBD would create an "unprecedented market power" that is anti-competitive. The involvement of Jared Kushner, an ally of the President who has stated he will be “involved in the decision” on the WBD deal due to antitrust concerns, is seen by analysts as a strategic move designed to secure political favor for the Paramount Skydance offer.
Looking ahead, the future outlook for Warner Bros. Discovery is now highly uncertain, with its board advising shareholders to "take no action" while they review the superior all cash offer. The intense bidding war is now a clash between two media titans Netflix and Paramount with a significant political dimension provided by the Jared Kushner connection. The final decision will likely hinge on whether shareholders prioritize the higher cash value of the Paramount offer or the stability of the Netflix deal, which includes a $5.8 billion breakup fee if it is blocked by regulators. The battle for control of major assets like HBO, DC Comics, and CNN is far from over.