Elon Musk has inserted himself into the intensifying takeover battle for Warner Bros with a popcorn emoji on X, signalling that he is closely watching — and seemingly enjoying — what could become one of Hollywood’s most aggressive corporate showdowns.
His reaction followed reports that Netflix has reached a $72-billion deal to buy Warner Bros Discovery’s film and television studios and its streaming businesses, securing control of global franchises such as Harry Potter, Batman, Game of Thrones and the HBO catalogue. If approved by regulators, the deal would dramatically expand Netflix from a streaming platform into one of the largest entertainment powerhouses in history.
But Paramount, which was also pursuing Warner Bros, has sharply objected to the sale, alleging that the bidding process was unfair and influenced by conflicts of interest. According to Axios, Paramount claimed its $30-a-share all-cash offer exceeded Netflix’s mix of cash, stock and cable-business restructuring, yet Warner Bros still favoured Netflix.
Paramount further accused Warner Bros management of having personal stakes and potential future roles tied to the Netflix transaction. With the deal slipping away, Paramount is reportedly weighing a hostile bid, setting the stage for a possible three-way corporate clash — Netflix vs Warner Bros vs Paramount.
If Paramount proceeds, the fight could get messy, and Musk — whose own Twitter takeover was famously turbulent — appears to be watching with amusement.
While Warner Bros prepares for the sale, it continues with its earlier plan to spin off its cable networks, including CNN, Discovery and Turner, into a separate company called Discovery Global.
Reacting publicly to the acquisition reports, Netflix co-CEO Ted Sarandos told the BBC, “Warner Bros have defined the last century of entertainment, and together we can define the next one.”
