2026년 2월 11일 · Unknown · financial · 출처 Uk
Larry Ellison’s Paramount has been caught up in an endless bidding war with Netflix - Justin Sullivan/Getty
Billionaire Larry Ellison has launched a fresh effort to derail Netflix’s planned $83bn (£61bn) takeover of Warner Bros.
Paramount, the US media group controlled by the Oracle founder, has sweetened its rival $108bn bid for the historic Hollywood studio as it seeks to win over shareholders.
The company offered to pay a so-called “ticking fee” of $0.25 per share to investors every quarter should its deal fail to close by the end of the year.
It also agreed to cover the $2.8bn termination fee Warner Bros would have to pay Netflix if it abandons their agreed deal, as well as $1.5bn in fees linked to Warner Bros’ debt refinancing.
The latest approach reflects efforts by Paramount, which is led by Larry Ellison’s son David Ellison, to highlight the uncertainty surrounding Netflix’s bid.
The US department of justice (DoJ) last week launched a competition review into the takeover amid concerns that merging two of the largest US streaming services – Netflix and HBO Max – could hand the combined company monopoly power.
At a US Senate hearing earlier this month, Ted Sarandos, co-chief executive of Netflix, rejected claims that the deal would be bad for consumers. However, the streaming giant has acknowledged that regulatory reviews could take up to 18 months.
Paramount would likely also face regulatory scrutiny for its proposed deal, but the company argues its approach offers greater certainty.
David Ellison, the chairman and chief executive of Paramount, said: “The additional benefits of our superior $30 per share, all-cash offer clearly underscore our strong and unwavering commitment to delivering the full value WBD shareholders deserve for their investment.Paramount says it will agree to pay the $2.8bn termination fee if Netflix falls through - Mario Tama/Getty
“We are making meaningful enhancements – backing this offer with billions of dollars, providing shareholders with certainty in value, a clear regulatory path, and protection against market volatility.”
It comes amid growing turmoil in the DoJ’s antitrust division, which is led by Gail Slater, an ally of Donald Trump.
Ms Slater’s aggressive approach to competition enforcement has reportedly rubbed up against the wider business-friendly stance adopted by the US government.
Mark Hamer, second in command in the antitrust division, on Monday stepped down less than a year into the role.
Paramount, which has repeatedly been rebuffed by the Warner Bros board, has mounted a charm offensive of shareholders in an effort to derail the Netflix bid.
Alongside competition concerns, executives are emphasising the impact of the deal on cinemas, amid concerns that Netflix could reduce the number of films distributed for theatrical release.
Netflix has insisted it will continue to invest in Warner Bros and remains committed to theatrical release windows for films.
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