Paramount Pictures found itself in the headlines again this week, but this time it wasn’t about the escalating battle over Warner Bros. Discovery. Early Monday, the studio’s official X account was briefly hacked, with the bio changed to read “Proud arm of the fascist regime.” The message was quickly removed, and the account has since been restored to its standard description: “The official X account for Paramount Pictures.”
The timing raised eyebrows across the industry. The hack appeared just days after Paramount Skydance CEO David Ellison publicly launched a hostile takeover bid for Warner Bros. Discovery, following Netflix’s announcement that it had struck a deal to acquire HBO, Max, and associated studios.
Ellison has framed his proposal as a superior alternative to Netflix’s, stating that Paramount’s offer provides “a more certain and quicker path to completion.” His all-cash bid values the company at $108.4 billion, significantly higher than the price attached to Netflix’s arrangement. According to reports, Ellison made multiple attempts to connect directly with WBD CEO David Zaslav ahead of the offer, but Zaslav ultimately leaned toward Netflix’s proposal.
“Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion. We believe the WBD Board of Directors is pursuing an inferior proposal, which exposes shareholders to a mix of cash and stock, an uncertain future trading value of the Global Networks linear cable business and a challenging regulatory approval process. We are taking our offer directly to shareholders to give them the opportunity to act in their own best interests and maximize the value of their shares.”
Paramount’s financing sources, including Saudi Arabia’s Public Investment Fund, the Abu Dhabi Investment Authority, and the Qatar Investment Authority, have been cited as complicating WBD’s evaluation process. The board has 10 business days from the December 8 bid to issue a response, setting a decision deadline for December 18.
Netflix co-CEO Ted Sarandos downplayed the maneuver, saying the hostile bid was “expected,” adding that Netflix remains “super confident” in its agreement.
The brief hack of Paramount’s social media account may amount to little more than an unfortunate glitch, but it arrives at a moment when every move in the Paramount–WBD–Netflix showdown is under a microscope — and the stakes for all parties continue to escalate.
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