Netflix, Paramount fight for Warner Bros Discovery in Hollywood power tussle

December 10, 2025 – 2:03 PM

Paramount and Warner Bros logos are seen in this illustration taken December 8, 2025. (Reuters/Dado Ruvic/Illustration/File Photo)

How logistics industry experts plan to ‘move forward’ after COVID-19

Reasons why Filipinos love Korean culture and products

Why Batangas is the destination for budget-friendly family holidays

Paramount Skydance

PSKY.O

launched a hostile bid worth $108.4 billion for Warner Bros Discovery

WBD.O

, challenging a rival offer from Netflix and injecting uncertainty into the future of Hollywood’s storied media company.

Since 2000, the parent company of the Warner Bros movie studio has been through three major reorganizations. Now the company is facing its fourth reorganization.

Here are four graphics showing why the deal involving Warner Bros Discovery matters:

To better compete with Disney

If Paramount succeeds in acquiring Warner Bros Discovery, the combined company would surpass market leader Disney

DIS.N

The potential buyout will also beef up Paramount’s content slate with HBO Max’s critically acclaimed shows ranging from “Game of Thrones” and “Succession” to classic prestige titles such as “The Wire” and “The Sopranos.”

Alphabet’s

GOOGL.O

YouTube has around 2.9 billion global mobile app monthly active users

in the current

quarter, exceeding the combined MAUs of major streaming services, including Netflix, Disney+, HBO Max, Paramount+ and Peacock, according to Sensor Tower.

Defining moment for Hollywood

closed up over

on Monday

, as the sale of the company would be one of the most consequential moments reshaping the media industry.

Dealing with debt

Warner Bros Discovery has roughly $35 billion

debt, meaning any deal will carry

significant debt load. The company had earlier rejected bids from Paramount, before the David Ellison-led company escalated to a hostile takeover bid.

In 2022, the WarnerMedia and Discovery merger resulted in a significant debt burden, which has stifled the company’s long-term strategic initiatives.

Under their potential deals, Paramount is expected to assume roughly $30 billion of debt from Warner Bros Discovery, while Netflix would assume around $10 billion of debt.

—Reporting by Jaspreet Singh in Bengaluru; Editing by Alan Barona