Paramount Skydance shocked the media world Monday by going hostile with an all-cash $30 per share bid to buy Warner Bros. Discovery, a proposal that values the company at roughly $108.4 billion and directly challenges the $82.7 billion deal Netflix announced last week. This is exactly the kind of market-driven competition conservatives should cheer: companies and investors fighting openly for shareholder value instead of quietly letting one tech titan swallow everything.
Netflix’s co-CEOs insist they remain “super confident” their deal will close, and their offer mixes cash and stock at $27.75 per share, but confidence isn’t a substitute for cold, hard cash on the table. Paramount’s pitch comes with a much higher immediate payout for shareholders, and in a free market the better bid should get its day in court and before investors—not be shielded by woke management teams or cozy boardroom arrangements.
What makes this fight even more interesting for conservatives is who’s backing Paramount: powerful private investors, family offices, and sovereign funds willing to put real capital where their mouths are. If the elites on the left want to cheerlead for Netflix’s media monopoly, hardworking Americans can at least appreciate investors stepping up to preserve competition and the movie-theater ecosystem that made American storytelling famous.
Regulatory noise and political posturing are already swirling—President Trump and other voices have flagged potential antitrust issues around the Netflix tie-up—yet that scrutiny should be about enforcing fair competition, not protecting a Silicon Valley giant just because it plays cultural referee. Conservatives must insist that regulators treat all bidders equally and that antitrust reviews focus on consumer choice and market health, not ideological favoritism.
Paramount argues its offer is better for Hollywood creators, theaters, and consumers, promising higher content spending and more theatrical releases—an argument that resonates with anyone who believes in stewardship of American culture and the arts. Shareholders deserve clarity and the chance to consider superior cash value, and boards shouldn’t hide behind promises from a tech oligarchy when a tangible, higher offer lands on the table.
This battle over Warner Bros. is about more than studios and streaming; it’s a test of whether America’s markets remain open to competition or become consolidation playgrounds for ideologically driven giants. Paramount’s tender offer runs through January 8, 2026, and Netflix has said any closing would likely take 12 to 18 months if regulators allow it—so this fight will play out in public, where shareholders and voters can see who really stands for competition and who stands for monopolies.
