Simply days after Warner Bros. Discovery publicly rejected Paramount’s buyout try, the media warfare escalated—and AEW may find yourself as collateral injury.
On December 22, 2025, Paramount Skydance got here again swinging, formally amending its $30-per-share all-cash supply for WBD in a high-stakes transfer to deal with each concern laid out by WBD’s board. That features one thing WBD claimed was non-negotiable: a private monetary assure from Larry Ellison himself.
Paramount issued a press launch saying that Ellison, founding father of Oracle and controlling shareholder of Paramount, had personally stepped in to solidify the deal:
“Larry Ellison has agreed to supply an irrevocable private assure of $40.4 billion of the fairness financing for the supply and any damages claims towards Paramount.”
That’s on prime of a brand new promise that he received’t revoke or switch the Ellison household belief—which at present holds over 1.16 billion shares of Oracle inventory—and an elevated regulatory termination charge of $5.8 billion. Paramount is clearly attempting to place WBD on blast for ignoring what it nonetheless insists is the higher supply, stating:
“Due to our dedication to funding and progress, our acquisition might be superior for all WBD stakeholders, as a catalyst for larger content material manufacturing, larger theatrical output, and extra client alternative.”
This growth comes after WBD’s Board labeled the Netflix deal a “superior, extra sure worth” and claimed the Paramount supply was too dangerous and poorly structured. Paramount isn’t letting that narrative stick and is now encouraging WBD shareholders to strain the board instantly by way of www.StrongerHollywood.com.
So the place does AEW match into this company tug-of-war? If Netflix finally ends up absorbing HBO Max and WBD’s studio operations, whereas a restructured Paramount will get TNT and TBS, AEW may very well be left with out a secure broadcast or streaming house. And with WWE already on Netflix, the door could also be closed there too.
AEW’s present cope with WBD is about to run out in 2026—and until Tony Khan finds a safe media associate quickly, his promotion may very well be caught in a merger storm that mirrors ECW’s notorious TV collapse.
Do you assume Paramount’s up to date supply is sufficient to shift the steadiness and save AEW’s house community? Or is the Netflix-WBD merger already too far gone? Tell us what you assume within the feedback under.
December 22, 2025 1:16 pm