Paramount CEO pressures European leaders to block Netflix's Warner Bros. bid

Friday 16 January 2026 - 16:50

By: Dakir Madiha

Paramount CEO pressures European leaders to block Netflix's Warner Bros. bid

David Ellison, chief executive of Paramount, has ramped up his campaign against Netflix's proposed acquisition of Warner Bros. Discovery by engaging directly with key European figures. He met with UK Culture Minister Lisa Nandy on Thursday and French President Emmanuel Macron earlier in the week, arguing that Netflix's $82.7 billion deal would undermine streaming market competition.

This lobbying push highlights the critical role of regulatory approvals from the European Commission and the UK's Competition and Markets Authority in any potential transaction. British lawmakers have voiced doubts about the Netflix proposal; Conservative peer Lord Black of Brentwood called it "clearly anti-competitive" during a recent House of Lords debate. Separately, Netflix and Paramount Skydance executives met with European Commission officials on Tuesday to make their antitrust cases, though regulators raised concerns over Netflix's potential dominance in Europe post-merger.

Paramount is capitalizing on this regulatory uncertainty. Sources told the New York Post that no bankers or legal experts believe Netflix's $72 billion offer will gain easy approval. In meetings with French officials and creatives, Ellison emphasized his commitment to preserving theatrical releases and respecting media windowing rules, a sensitive issue in France where strict chronologies have barred Netflix films from Cannes competition. An industry insider involved in Paris discussions noted to Variety that Ellison is "fully committed to maintaining both studios, respecting media timelines and windows in France and beyond."

European cinema operators have also raised alarms over a Netflix takeover. Tim Richards, CEO of Vue, one of the continent's largest chains, warned Mergermarket that the industry fears losing a major studio; Warner Bros. accounted for 18.5% of UK and Ireland releases last year. Vue and the European cinema trade body UNIC, representing 43,500 screens across 39 countries, oppose the Netflix deal, citing risks to theatrical exhibition. Paramount Skydance, by contrast, pledges about 30 annual theatrical releases in the UK if the deal proceeds, far outpacing Netflix's limited track record.

Warner Bros. Discovery accepted Netflix's offer in December, valuing its streaming and studio assets at $82.7 billion. Paramount's hostile bid, backed by Ellison's father Larry and Middle Eastern sovereign funds, values the full company at $108.4 billion. Paramount has launched a proxy fight, planning to nominate directors at Warner Bros. Discovery's next annual meeting, and filed a Delaware lawsuit seeking more details on Netflix's finances. Netflix may shift to an all-cash offer to speed shareholder approval. Ultimately, success may hinge less on financial muscle and more on persuading regulators on both sides of the Atlantic that the vision protects competition and consumers.