Paramount’s Bid for Warner Bros. Faces Stiff Resistance

The contest to acquire Warner Bros. has become increasingly fraught, with each day bringing fresh developments and heightened tensions. Recent speculation suggested Netflix might be poised to purchase the storied studio, but Paramount Skydance Corp. has also entered the fray, adding further complexity to the proceedings. However, the latest reports indicate that Warner Bros. Discovery is preparing to turn down Paramount’s proposal, casting doubt on the likelihood of a deal.

According to a recent update, Warner Bros. Discovery has dismissed Paramount’s offer as

“illusory”

, suggesting that a sale to Netflix would be a more attractive prospect. The Paramount bid, it seems, is largely backed by investors from Saudi Arabia, Qatar, and Abu Dhabi—an arrangement that has prompted significant concern within Warner Bros. Discovery, who have cited this as a fundamental issue.

Paramount, for its part, has responded robustly, insisting its financial backing is

“air tight”

and dismissing Warner Bros. Discovery’s reservations as

“absurd.”

Meanwhile, the Warner Bros. Discovery board has advised shareholders that the Paramount offer

“provides inadequate value and imposes numerous, significant risks and costs on WBD.”

The final decision now rests with the shareholders themselves.

Rival Bidders and the Snyderverse Question

Warner Bros. first put itself up for sale in October 2025, following a series of offers for the company or its assets. Alongside Netflix and Paramount Skydance Corp., Comcast Corp. has also expressed interest in acquiring the studio, making the competition even more intense.

Netflix’s relationship with Zack Snyder is well established, with the streaming giant having collaborated with the director on several projects, including the Rebel Moon films and the Army of the Dead franchise, which spawned the 2021 release Army of Thieves. Should Netflix succeed in its bid, it is widely expected that the so-called Snyderverse—the original foundation of the DC Extended Universe—could see a revival. This universe featured Henry Cavill as Superman, Ben Affleck as Batman, and Gal Gadot as Wonder Woman, among other notable performances.

For years, fans of Zack Snyder have hoped that Warner Bros. Discovery would sell its DC superhero properties to Netflix, in the hope of breathing new life into the Snyderverse. Netflix’s interest reportedly extends to Warner Bros.’ film and television studios, as well as the HBO and HBO Max streaming businesses, suggesting that significant changes could be on the horizon for the studio’s superhero output.

Box Office and Critical Reception

To provide some context, here’s a look at the performance of key Snyderverse films:

Man of Steel received a 7.1/10 rating on IMDb and scored 57% (critics) and 75% (audience) on Rotten Tomatoes, with a budget of $225 million and a global box office of $670 million. Batman v Superman: Dawn of Justice earned 6.4/10 on IMDb, 28% (critics) and 63% (audience) on Rotten Tomatoes, with a $250 million budget and $874 million worldwide. Zack Snyder’s Justice League achieved 7.9/10 on IMDb and 71% (critics) and 92% (audience) on Rotten Tomatoes, though budget and box office figures remain undisclosed.

Shareholder Divisions and the Future of DC

At present, some Warner Bros. Discovery shareholders remain inclined to accept Paramount Skydance Corp.’s offer, despite the board’s reservations. Reports suggest that certain investors may disregard the company’s advice and sell their shares to Paramount at $30 apiece.

If this transaction goes ahead, the current DC Universe, overseen by James Gunn and Peter Safran, could continue to flourish. Paramount Skydance Corp. CEO David Ellison has pledged to retain the existing creative teams, a commitment that may reassure those concerned about potential upheaval.

The outcome of this high-stakes contest remains uncertain, with the fate of Warner Bros.—and the future direction of its superhero franchises—hanging in the balance.