By TOI Tech Desk
Publication Date: 2026-01-23 11:17:00
Netflix co-CEO Greg Peters has rejected Paramount Skydance’s $108 billion bid for Warner Bros. Discovery (WBD), calling it unrealistic without the financial backing of Oracle founder Larry Ellison. In an interview with the Financial Times, Peters said Paramount’s proposal “fails the sniff test” and relies too heavily on debt and external support. He compared it to Netflix’s revised $82.7 billion cash offer, which he said was far more stable. “This additional leverage required by Paramount’s offer is pretty crazy,” Peters said.
Shareholder support leans towards Netflix
According to the report, Paramount took its offer directly to WBD shareholders after the board rejected it. However, initial filings show Paramount has only secured about 7% of WBD shares, well short of the majority needed to gain control. Analysts also point out that Netflix’s cash-backed offering has greater appeal among investors wary of debt-heavy deals.
