This Monday, Netflix's management reiterated its intention to acquire part of Warner Bros. Discovery, after the company received a multi-million dollar offer from Paramount to its shareholders.

Both Greg Peters and Ted Sarandos, co-CEOs of Netflix, commented on their proposal, indicating that the streaming giant would continue releasing films on The theaters. “We are strengthening one of Hollywood’s most iconic studios, supporting jobs and ensuring a healthy future for film and television production,” they stated.

Before Paramount entered the fray, Netflix offered $82.7 billion, about $27.75 per share. They also indicated that their intention was not to buy the entire company, but rather a part of it.

However, Paramount went directly to shareholders, offering $108 billion, about $30 per share in cash, and stating that they wanted to buy the entire company, including its production studios, television channels, and streaming platforms.

Although Paramount’s offer was described as hostile, not everyone agrees that selling to Netflix would be the best option. Senator Elizabeth Warren, a Democrat from Massachusetts, commented that this deal “would create a mass media giant with control of nearly half the streaming market,” opposing the purchase. For his part, President Donald Trump has spoken out about these agreements, indicating that while neither party is “his friend,” he cares who ends up with CNN. “I think those who have run CNN for so long are an embarrassment. I think it is imperative to sell CNN,” the president stated. So far, Netflix CEO Greg Peters has only stated that “we expect to attract and retain more subscribers, and drive growth in revenue and operating profit. We believe this will propel our business for decades to come,” he said. Meanwhile,Paramount CEO David Ellison recently stated that “as someone who has spent the last 15 years of my life producing movies and television shows, this is an industry I love, this is an existential moment for our business, and we believe that what we are offering is better for Hollywood, is better for the customers, and is pro-competitive,” he said.

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