In a seismic shift for Hollywood, Paramount Global’s Skydance Media, led by David Ellison, has submitted a formal bid to acquire all of Warner Bros. Discovery, intensifying a high-stakes auction that drew offers from Comcast and Netflix by the November 20 deadline. The move, backed by Ellison’s father Larry Ellison’s vast Oracle fortune, positions Skydance as the frontrunner in what could reshape the streaming wars and consolidate content powerhouses.

Warner Bros. Discovery, saddled with $40 billion in debt and reeling from streaming losses, has attracted suitors eyeing its HBO Max library, storied film studio, and sports assets. Paramount’s full buyout proposal stands apart from partial bids, sources say, potentially merging Paramount+ with Max to challenge Netflix and Disney. Deadline Hollywood reported the bids’ submission, marking “a dramatic period of evolution for the media business.”

The Skydance Playbook

David Ellison, fresh off his $8 billion Skydance-Paramount merger, envisions a combined entity producing 30 films annually while leveraging AI for consumer insights. Skydance aims to retain creative leaders at both studios, blending Warner’s DC Comics and HBO prestige with Paramount’s franchises. Bloomberg notes plans to merge HBO Max into Paramount+, despite Max’s superior subscriber base.

Paramount believes its all-cash, all-asset offer gives it leverage, with Ellison’s personal ties adding intrigue. Insiders highlight synergies in sports rights and international distribution, potentially slashing costs amid cord-cutting. Variety detailed how bids stack up, with Paramount eyeing the entire company.

Comcast and Netflix Counteroffers

Comcast, owner of NBCUniversal and Peacock, is targeting Warner’s studios and HBO, aiming to bolster its content pipeline without the cable baggage. Netflix, flush with $17 billion in cash, seeks Warner’s film library and theatrical slate, pledging to maintain the traditional 45-day window post-acquisition. Media Play News confirmed Netflix’s stance.

The Economic Times reported all three submitted bids, with Netflix potentially accessing Warner’s IP to fuel original productions. Yet Paramount’s full takeover edges ahead, as partial deals risk antitrust scrutiny on valuable assets like NBA rights shared via TNT.

Trump’s Shadow Over Regulators

David Ellison’s rapport with President Trump emerges as a pivotal advantage. Sources tell Business Insider that Ellison’s allies argue he’s the only bidder likely to win Trump administration approval, citing Larry Ellison’s White House discussions. The Guardian revealed Larry Ellison talked axing CNN hosts disliked by Trump during takeover talks, with officials signaling favor toward the deal.

Posts on X amplify this narrative, with users noting senior officials’ preference for Paramount Skydance. CNN Business earlier flagged Ellison’s “Trump card,” as prior Warner overtures were rebuffed but his persistence endures amid regulatory thaw.

Middle East Money and Geopolitics

Saudi funds loom large, with Deadline reporting speculation on their role ahead of bids. Ellison hosted a White House dinner, fueling talk of Gulf capital backing the play to counter Chinese influence in media.

Warner Bros. Discovery shares have doubled since rumors surfaced, per Benzinga, reflecting market bets on a premium. The board eyes a Christmas decision, planning cable network separation by 2026.

Antitrust Minefield Ahead

DOJ scrutiny awaits any winner, especially Paramount’s merger creating a streaming giant rivaling Netflix. Senator Chris Van Hollen warned on X of threats to competition and journalism from media consolidation. Axios notes Paramount’s full buyout bid as advantaged.

Netflix’s debt-free position and 24% 2025 growth make it formidable, but Ellison’s political capital and family backing—Larry’s $200 billion net worth—tilt odds. The New York Times previewed the frenzy.

Hollywood’s New Power Map

A Paramount-Warner union would control 20% of U.S. box office, per X chatter, dominating IP from Batman to Mission: Impossible. Comcast could pair HBO with Universal, while Netflix eyes theatrical revival.

Variety reports Warner reviewing first-round bids, with due diligence next. Industry observers, skeptical of AI hype, see data troves as key to predicting hits amid $9 billion annual content spend.

Stakeholder Stakes and Fallout

CEO David Zaslav’s tenure hinges on outcome, with debt refinancing urgent. Unions eye job impacts, while creators anticipate stability. X sentiment mixes Trump favoritism with consolidation fears, echoing past megadeals like Disney-Fox.

As bids evolve, Ellison’s blend of tech lineage, Hollywood ambition, and D.C. whispers positions him uniquely, potentially redrawing Tinseltown’s battle lines.