Warner Bros Discovery Moves to Block Paramount's $108bn Takeover Bid. Warner Bros Discovery is set to urge its shareholders to reject Paramount Skydance's $108 billion takeover offer, according to reports, potentially as early as Wednesday. Paramount argues its bid is superior to Warner Bros' existing $72 billion deal with Netflix covering its film and streaming businesses. But the proposed takeover has already hit turbulence, with Affinity Partners — a key backer founded by Jared Kushner — reportedly pulling out, citing concerns about competition. Warner Bros is expected to warn investors about financing risks tied to Paramount's offer, the Financial Times reports. The company put itself up for sale in October after attracting multiple suitors. Any takeover would likely face intense regulatory scrutiny in the US and Europe. Critics, including the Writers Guild of America, argue a merger could lead to job losses, lower wages, and less content for audiences.