Netflix CEO Dismisses Paramount’s $108 Billion Warner Bros. Bid, Questions Funding Without Larry Ellison
Netflix CEO Greg Peters has strongly criticized Paramount Skydance’s $108 billion bid to acquire Warner Bros. Discovery, arguing that the deal would be impossible without financial backing from Oracle co-founder Larry Ellison.
Speaking to the Financial Times, Peters said Paramount lacks the financial strength to complete the acquisition independently and is heavily reliant on Ellison’s personal funding commitment.
“Without Larry Ellison independently financing this thing, there’s no chance in hell Paramount would ever be able to pull this off,” Peters told the publication.
Ellison’s Role Central to Paramount’s Offer
According to earlier reports by Mint, Larry Ellison has agreed to personally provide $40.4 billion in equity financing to support Paramount Skydance’s all-cash proposal. Ellison is also the father of David Ellison, CEO of Paramount.
Peters described the offer as “pretty crazy,” pointing to Paramount’s existing debt load and the additional leverage required to fund its proposed $30-per-share bid for Warner Bros. Discovery.
“Paramount already is saddled with quite a lot of debt,” he added, warning that the structure of the deal raises serious financial risks.
Limited Shareholder Support for Paramount Deal
The Netflix chief executive also claimed that only a small fraction of Warner Bros. Discovery shareholders support Paramount’s hostile takeover attempt, according to the FT report.
Those concerns appear to align with the company’s board position.
Warner Bros. Discovery Board Rejects Bid
On 7 January 2026, Warner Bros. Discovery’s board of directors formally rejected Paramount Skydance’s $108.4 billion offer, urging shareholders to do the same.
In a regulatory filing, the board said the proposal was “inadequate” and highlighted uncertainty around Paramount’s ability to fully finance the transaction, citing potential risks and costs for shareholders.
“The board unanimously determined that Paramount’s latest offer remains inferior to our merger agreement with Netflix across multiple key areas,” said Samuel A. Di Piazza Jr., chair of the Warner Bros. Discovery board.
Netflix Pushes All-Cash Deal Structure
Meanwhile, Netflix has revised its own acquisition proposal to strengthen deal certainty. According to filings with the U.S. Securities and Exchange Commission dated 20 January 2026, Netflix converted its bid into a fully all-cash transaction, removing the equity component.
The offer remains valued at $27.75 per share, with the revised structure aimed at simplifying execution and improving shareholder confidence. The deal is partly supported by $55 billion in debt, reflecting Netflix’s balance sheet strength.
Peters told the Financial Times that Paramount’s bid “doesn’t pass the sniff test” and said Netflix expects to secure shareholder approval when voting takes place in April 2026.
As the deadline approaches, Netflix continues to court undecided shareholders, emphasizing what it calls greater deal certainty and financial transparency compared to Paramount’s rival offer.
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