The battle for Warner Bros. continues in the final days of 2025 as the media company’s answer to Paramount’s latest takeover bid is revealed.

According to Bloomberg‘s report on December 30, Warner Bros. intends to reject Paramount Skydance’s takeover offer when the company’s board of directors meets next week. A final decision on Paramount’s latest bid won’t be made until that meeting.

Paramount recently amended the terms of its bid for Warner Bros. after its previous takeover offer was rejected. After being turned down the last time, Larry Ellison, Paramount CEO David Ellison’s father, guaranteed $40.4 billion in equity to finance the company’s bid against Netflix.

More to come…