Today in Focus Netflix v Paramount: Trump wades into Warner Bros battle – The Latest
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Dec 9, 2025 
In this discussion, Callum Jones, the Deputy Business Editor at The Guardian, dives into the intense bidding war for Warner Bros Discovery. He reveals Netflix's hefty $80 billion offer and discusses Paramount's competing $108 billion bid backed by high-profile investors, including Jared Kushner. The potential influence of Donald Trump on the sale adds a surprising twist, with implications for creators and newsrooms explored. Callum also outlines the landscape of resistance from Hollywood, raising questions about the future of media consolidation.
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Bidding War Upsets A Nearly Completed Deal
- Netflix struck a $80bn agreement to buy Warner Bros Discovery but the deal was quickly complicated by a rival bid.
- Paramount's hostile $108bn offer aims to buy the whole company and has escalated the contest for control.
Consolidation Threatens Media Plurality
- Consolidation between two major companies would reshape production, streaming and newsrooms globally.
- Merging big studios or platforms threatens plurality, mid-budget films, and competition in news media.
Unusual Backers Power Paramount Bid
- The Paramount bid is financed by a mix of private equity and sovereign wealth funds including Jared Kushner's Affinity Partners.
- That funding mix raises geopolitical and governance questions about who would control major media assets.