David Ellison, the billionaire tech scion turned Hollywood powerhouse, just dropped a bombshell $108 billion all-cash hostile takeover bid for Warner Bros. Discovery (WBD) on December 8, 2025—mere days after Netflix locked in an $83 billion deal for WBD’s studio and streaming assets. As Chairman and CEO of Paramount Skydance, Ellison is bypassing WBD’s board entirely, going straight to shareholders with a $30-per-share offer that he claims trumps Netflix’s mix of cash and stock. This aggressive move reignites a bidding war Ellison kickstarted months ago, positioning him as the ultimate disruptor in Tinseltown’s consolidation frenzy.​
David Ellison: The Relentless Hollywood Hunter
David Ellison isn’t new to big swings—he’s the son of Oracle co-founder Larry Ellison and sealed Paramount Skydance’s $8 billion merger just months back, slashing costs and snagging talents like the Duffer Brothers. His pursuit of WBD ramped up in September 2025 with private pitches to the board, escalating to multiple rejected bids up to $30 per share before Netflix swooped in at $27.75 for key assets. Now, Ellison’s framing his tender offer as a “superior” path with faster closure and no regulatory headaches tied to Netflix’s streaming dominance, backed by his dad’s deep pockets and Trump-era ties.​
Ellison’s Hostile Playbook Unfolds
The bid values all of WBD—including CNN, TBS, and cable networks—at over $108 billion, $18 billion more in cash than Netflix’s setup, which hinges on spinning off linear TV amid debt woes. Ellison slammed WBD’s board for favoring a “lesser proposal” with uncertain stock values and antitrust scrutiny, urging shareholders to tender shares directly. In a CNBC spot, he vowed, “We’re really here to finish what we started,” after six prior bids, betting his all-cash certainty wins out as Netflix’s deal awaits FTC review.​​
This saga stems from WBD CEO David Zaslav’s auction process, sparked by Ellison’s initial letter, drawing Comcast and Netflix before the latter edged ahead—though Paramount cries foul on a rigged sale. With President Trump eyeing antitrust flags on Netflix-WBD, Ellison’s bid could sway regulators and shareholders alike. Stay tuned; Hollywood’s plot twists just hit warp speed.​
