Paramount Skydance Sues Warner Bros for Details on Netflix Deal

Paramount and Warner Bros logos are seen in this illustration taken December 8, 2025. (Reuters)
Paramount and Warner Bros logos are seen in this illustration taken December 8, 2025. (Reuters)
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Paramount Skydance Sues Warner Bros for Details on Netflix Deal

Paramount and Warner Bros logos are seen in this illustration taken December 8, 2025. (Reuters)
Paramount and Warner Bros logos are seen in this illustration taken December 8, 2025. (Reuters)

Paramount Skydance on Monday sued Warner Bros Discovery for more information on a rival $82.7 billion deal with Netflix, escalating a battle to take control of one of the most storied Hollywood studios.

The David Ellison-led company also said it plans to nominate directors to Warner Bros Discovery's board, in one of its most aggressive steps yet to convince shareholders that its hostile $30-per-share cash bid is superior to the $27.75-per-share cash-and-stock offer from Netflix.

The CBS parent and Netflix have been in a heated battle for Warner Bros, its prized film and television studios, and its extensive content library that ‌includes "Harry Potter" and ‌the DC Comics universe.

In a letter to ‌shareholders, ⁠Paramount also ‌said it would propose an amendment to Warner Bros' bylaws that would require shareholder approval for any separation of the media giant's cable TV business - which is key to the Netflix deal.

Paramount said last week the value of the cable spinoff was virtually worthless and reiterated its amended $108.4 billion bid after another rejection from the Warner Bros board.

The amended offer ⁠had included $40 billion in equity personally guaranteed by Oracle's co-founder Larry Ellison, the father of ‌Paramount CEO David Ellison, and $54 billion in ‍debt.

"WBD has provided increasingly novel ‍reasons for avoiding a transaction with Paramount, but what it has ‍never said, because it cannot, is that the Netflix transaction is financially superior to our actual offer," Paramount wrote in a letter to Warner Bros shareholders.

"Unless the WBD board of directors decides to exercise its right to engage with us under the Netflix merger agreement, this will likely come down to your vote at a shareholder meeting."

Netflix ⁠and Warner Bros did not immediately respond to requests for comment.

Shares of Warner Bros were down 1.5% in early trading, while Netflix ticked up 0.8% and Paramount 0.3%.

Paramount's argument - one it is using to sway investors - is that its all-cash offer for the whole of Warner Bros offers more certainty than the deal with Netflix for the studios and streaming assets and will more easily clear regulatory hurdles.

The sour performance of Versant, the Comcast cable spinoff, has also given fresh ammunition to Paramount's campaign to convince Warner Bros shareholders its offer is better.

Paramount's tender ‌offer will expire on January 21, but the company can extend it.



‘Hamnet’ and ‘One Battle After Another’ Take Top Honors at Golden Globes

(L-R) British actors Joe Alwyn, Noah Jupe, Chinese filmmaker Chloe Zhao, Irish actors Jessie Buckley, Paul Mescal, and British actor Jacobi Jupe pose in the press room with the award for best motion picture - drama for "Hamnet" during the 83rd annual Golden Globe Awards ceremony at the Beverly Hilton Hotel in Beverly Hills, California, USA, 11 January 2026. (EPA)
(L-R) British actors Joe Alwyn, Noah Jupe, Chinese filmmaker Chloe Zhao, Irish actors Jessie Buckley, Paul Mescal, and British actor Jacobi Jupe pose in the press room with the award for best motion picture - drama for "Hamnet" during the 83rd annual Golden Globe Awards ceremony at the Beverly Hilton Hotel in Beverly Hills, California, USA, 11 January 2026. (EPA)
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‘Hamnet’ and ‘One Battle After Another’ Take Top Honors at Golden Globes

(L-R) British actors Joe Alwyn, Noah Jupe, Chinese filmmaker Chloe Zhao, Irish actors Jessie Buckley, Paul Mescal, and British actor Jacobi Jupe pose in the press room with the award for best motion picture - drama for "Hamnet" during the 83rd annual Golden Globe Awards ceremony at the Beverly Hilton Hotel in Beverly Hills, California, USA, 11 January 2026. (EPA)
(L-R) British actors Joe Alwyn, Noah Jupe, Chinese filmmaker Chloe Zhao, Irish actors Jessie Buckley, Paul Mescal, and British actor Jacobi Jupe pose in the press room with the award for best motion picture - drama for "Hamnet" during the 83rd annual Golden Globe Awards ceremony at the Beverly Hilton Hotel in Beverly Hills, California, USA, 11 January 2026. (EPA)

Paul Thomas Anderson’s ragtag revolutionary saga “One Battle After Another” took top honors at Sunday’s 83rd Golden Globes in the comedy category, while Chloé Zhao's Shakespeare drama “Hamnet” pulled off an upset over “Sinners” to win best film, drama.

“One Battle After Another” won best film, comedy, supporting female actor for Teyana Taylor and best director and best screenplay for Anderson. He became just the second filmmaker to sweep director, screenplay and film, as a producer, at the Globes. Only Oliver Stone, for “Born on the Fourth of July,” managed the same feat.

In an awards ceremony that went almost entirely as expected, the night's final award was the most surprising. While “One Battle After Another” has been the clear front-runner this awards season, most have pegged Ryan Coogler's Jim Crow-era vampire thriller as its closest competition.

But “Hamnet,” a speculative drama about William and Agnes Shakespeare based on Maggie O’Farrell's bestseller, won in the dramatic category shortly after its star, Jessie Buckley, won best female actor in a drama.

It was a banner night for Warner Bros., the studio behind “One Battle After Another” and “Sinners.” Warner Bros. Discovery has agreed to be sold to Netflix in an $83 billion deal. Paramount Skydance has appealed to shareholders with its own rival offer.

In his speech after winning best director, Anderson praised Warner co-chief Michael DeLuca. “He said he wanted to run a studio one day and let filmmakers make whatever they want,” said Anderson. “That’s how you get ‘Sinners.’ That’s how you get a ‘Weapons.' That’s how you get ‘One Battle After Another.’”

The final awards brought to, or near, the stage a handful of the most talented filmmakers together in Anderson, Zhao and Coogler — plus Steven Spielberg, a producer of “Hamnet.” Regardless of who won what, it was a heartening moment of solidarity between them, with a shared sense of purpose. Zhao fondly recalled being at Sundance Labs with Coogler when they were each starting out.

“As students, let’s keep our hearts open and let’s keep seeing each other and allowing each other to be seen,” said Zhao, while Coogler smiled from the front row.

“Sinners” won for best score and cinematic and box-office achievement. The win for box office and cinematic achievement, over franchise films like “Avatar: Fire and Ash,” was notable for Coogler's film, a movie that some reports labeled a qualified success on its release.

Yet “Sinners” ultimately grossed $278 million domestically and $368 million worldwide, making it highest grossing original film in 15 years.

“I just want to thank the audience for showing up,” said Coogler. “It’s means the world.”

Coming off years of scandal and subsequent rehabilitation, the Globes and host Nikki Glaser put on a star-studded ceremony that saw wins for the streaming sensation “KPop Demon Hunters” (best animated film, song), a meta triumph for Seth Rogen’s “The Studio” and an inaugural award for podcasting that went to Amy Poehler’s “Good Hang.”

Many of the Oscar favorites won. Timothee Chalamet won his first Golden Globe, for “Marty Supreme,” after four previous nominations. The 30-year-old is poised to win his first Oscar. Fellow nominees like Leonardo DiCaprio and George Clooney stood to applaud his win.

“My dad instilled in me a spirit of gratitude growing up: Always be grateful for what you have,” said Chalamet. “It’s allowed me to leave this ceremony in the past empty handed, my head held high, grateful just to be here. I’d be lying if I didn’t say those moments didn’t make this moment that much sweeter.”

Glaser comes out swinging

The Globes, held at the Beverly Hilton in Beverly Hills, California, got underway with a pointedly political opening from host Nikki Glaser and an early award for the night’s favorite, “One Battle After Another.” Emceeing the show for the second straight year, Glaser kicked off the show with self-aware satire.

“Yes, the Golden Globes, without a doubt the most important thing happening in the world right now,” she said.

In a winning, rapid-fire opening monologue that landed some punch lines on the usual subjects — the age of Leonardo DiCaprio’s dates, Kevin Hart’s height — Glaser also dove right into some of her most topical material.

For the on-the-block Warner Bros., Glaser started the bidding at $5. Referencing the Epstein files, she suggested best editing should go to the Justice Dept. The “most editing,” however, she suggested deserved to go to Bari Weiss’ new CBS News — a dig at the Paramount Skydance-owned network airing the Globes.

Political tension and industrywide uncertainty were the prevailing moods heading into Sunday’s awards. Hollywood is coming off a disappointing box-office year and now anxiously awaits the fate of one of its most storied studios, Warner Bros.

The Globes, formerly presented by the Hollywood Foreign Press Association, have no overlap or direct correlation with the Academy Awards. After being sold in 2023 to Todd Boehly’s Eldridge Industries and Dick Clark Productions, a part of Penske Media, the Globes are voted on by around 400 people. The Oscars are voted on by more than 10,500 professionals.

But in the fluctuating undulations of awards season, a good speech at the Globes can boost an Oscar campaign. Winners Sunday included Rose Byrne (“If I Had Legs I'd Kick You”) for best female actor in a comedy or musical, and Wagner Moura, the Brazilian star of “The Secret Agent,” for best male actor in a drama. Kleber Mendonça Filho's period political thriller also won best international film.

“I think if trauma can be passed along generations, values can do,” Moura said. “So this to the ones who are sticking with their values in difficult moments.”

Other winners Sunday included the supporting actor front-runner, Stellan Skarsgård who won for the Norwegian family drama “Sentimental Value.” It was the first major Hollywood movie award for the 74-year-old, a respected veteran actor who drew a standing ovation.

“I was not prepared for this because I, of course, thought I was too old,” said Skarsgård.

‘The Studio' and 'Adolesence' win

In the television awards, “The Pitt” took best drama series, while Noah Wyle won, too, brushing past his former “ER”-star Clooney on the way to the stage. Netflix’s “Adolescence” won four awards: best limited series, and acting awards for Erin Doherty, Stephen Graham and 16-year-old Owen Cooper.

Other winners included Rhea Seehorn for “Pluribus” and Jean Smart for “Hacks.”

But the most comically poignant award of the night went to “The Studio,” the best comedy series winner. Seth Rogen’s Hollywood satire memorably included an episode devoted to drama around a night at the Globes. (Sample line: “I remember when the red carpet of the Golden Globes actually stood for something.”)

Rogen also won best male actor in a comedy. “This is so weird,” Rogen said, chuckling. “We just pretended to do this. And now it’s happening.”


Hollywood Stars Gather for an All-Winners Celebration at the American Film Institute Awards

Leonardo DiCaprio takes the stage to accept the award for Outstanding Performance by a Male Actor in a Leading Role for his role in "The Revenant" at the 22nd Screen Actors Guild Awards in Los Angeles, California January 30, 2016.(Reuters)
Leonardo DiCaprio takes the stage to accept the award for Outstanding Performance by a Male Actor in a Leading Role for his role in "The Revenant" at the 22nd Screen Actors Guild Awards in Los Angeles, California January 30, 2016.(Reuters)
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Hollywood Stars Gather for an All-Winners Celebration at the American Film Institute Awards

Leonardo DiCaprio takes the stage to accept the award for Outstanding Performance by a Male Actor in a Leading Role for his role in "The Revenant" at the 22nd Screen Actors Guild Awards in Los Angeles, California January 30, 2016.(Reuters)
Leonardo DiCaprio takes the stage to accept the award for Outstanding Performance by a Male Actor in a Leading Role for his role in "The Revenant" at the 22nd Screen Actors Guild Awards in Los Angeles, California January 30, 2016.(Reuters)

If the American Film Institute Awards stands for anything, it's that everyone in the room - from Leonardo DiCaprio and Ryan Coogler to Timothée Chalamet and Ariana Grande - leaves feeling like a winner.

That spirit was on full display Friday as the AFI Awards gathered its 2026 honorees for an invitation-only luncheon in Beverly Hills, where the institute once again celebrated the collaborative nature of film and television by honoring creative teams - in front of and behind the camera.

Inside the ballroom, there were no acceptance speeches in the traditional sense and no suspense over envelopes. Instead, AFI's ceremony unfolded as a series of thoughtfully written tributes: eloquent rationales for each honored film and television program, followed by brief clips designed to place the year's work within a broader cultural and artistic context.

AFI President Bob Gazzale spoke in front of star-filled room, ensuring there were no losers with only shared recognition.

The room reflected that mood. Filmmaker Steven Spielberg was spotted chatting with Coogler, whose wife and "Sinners" producer, Zinzi Coogler, stood beside him. Meanwhile, Michael B. Jordan worked the room, trading hugs and handshakes with fellow honorees and guests including "Bugonia" star Jesse Plemons and "Task" actor Mark Ruffalo. Filmmakers James Cameron and Guillermo del Toro greeted each other.

Nearby, DiCaprio stood side by side with Netflix co-CEO Ted Sarandos and actors Benicio del Toro and Edward James Olmos. Chase Infiniti looked on from her table, gazing toward her "One Battle After Another" co-stars before the program kicked off.

On the red carpet, with "Death by Lightning" actor Nick Offerman beside him, George Clooney shared laughs with a photographer, adding to the easygoing tone that carried throughout the afternoon. After the event, Infiniti and Jordan reunited for a hug and a brief catch-up, a quiet moment that underscored the camaraderie in the room.

Films honored include "Avatar: Fire and Ash,Bugonia,Frankenstein,Hamnet,Jay Kelly,Marty Supreme,One Battle After Another,Sinners,Train Dreams" and "Wicked: For Good."

Television shows recognized were "Adolescence,Andor,Death by Lightning,The Diplomat,The Lowdown,The Pitt,Severance,The Studio" and "Task."

Closing the ceremony was Carol Burnett, who delivered AFI's annual benediction, celebrating the honorees' achievements while reflecting on her own lifelong love of cinema and television.

"I've never lost the deep respect and love that I have for all the stories we tell through cinema and television and by all of those behind and in front of the camera," Burnett said. "Creative collaboration has always remained at the heart of our work, and AFI brings us all together. The world is a better place for having heard your voices."

The luncheon also featured AFI's signature March of Time video montage, a sweeping look at cinematic and television milestones from decades past, situating this year's honorees within the evolving history of the medium.


K-Pop Might Win at the Grammys for the First Time

Grammy Awards are displayed at the Grammy Museum Experience at Prudential Center in Newark, N.J. on Oct. 10, 2017. (AP)
Grammy Awards are displayed at the Grammy Museum Experience at Prudential Center in Newark, N.J. on Oct. 10, 2017. (AP)
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K-Pop Might Win at the Grammys for the First Time

Grammy Awards are displayed at the Grammy Museum Experience at Prudential Center in Newark, N.J. on Oct. 10, 2017. (AP)
Grammy Awards are displayed at the Grammy Museum Experience at Prudential Center in Newark, N.J. on Oct. 10, 2017. (AP)

Two things can be true at once. K-pop is an inextricable force in global pop culture, and it has long been undercelebrated at institutions like the Grammys — where K-pop artists have performed but have never taken home a trophy.

That could change at next month's 2026 Grammy Awards ceremony. Songs released by K-pop artists — or K-pop-adjacent artists, more on that later — have received nominations in the big four categories for the first time. Rosé, perhaps best known as one-fourth of the juggernaut girl group Blackpink, is the first K-pop artist to ever receive a nomination in the record of the year field for “APT.,” her megahit with Grammys' favorite Bruno Mars.

The song of the year category also features K-pop nominees for the first time. “APT.” will go head-to-head with the fictional girl group HUNTR/X's “Golden,” performed by Ejae, Audrey Nuna and Rei Ami from the “KPop Demon Hunters” soundtrack.

And the girl group Katseye, the brain child of HYBE — the entertainment company behind K-pop sensation BTS and countless other international acts — fashioned in the image of the K-pop idol system, has been nominated for best new artist.

Is this a historic moment for K-pop? It depends on who you ask.

Areum Jeong, assistant professor of Korean Studies at Arizona State University and author of “K-pop Fandom: Performing Deokhu from the 1990s to Today” says the majority of these nominations strike her more as “a de-territorialized, hybrid idea of K-pop,” instead of a recognition of K-pop.

While Rosé “was recruited and trained under the K-pop system, and while ‘APT.’ does contain some motifs from the Korean drinking game,” Jeong says, “the song does not feel like a localized K-pop production. ... Same with Katseye, who was trained and produced under HYBE but marketed more toward Western fans and listeners.”

Jeong says that both “APT.” and Katseye's “Gabriela” — both of which will go head-to-head with “Golden” in the pop duo/group performance category — “seem less K-pop than other K-pop songs that could have been nominated over the years.”

She argues the same is true for the music of “Kpop Demon Hunters.” “It is very similar to ‘APT.’ in that it takes inspiration and motif from Korean culture,” where “K-pop serves as an idea, a jumping-off point, or a motif, creating alternatives or new possibilities.”

Mathieu Berbiguier, a visiting assistant professor in Korean Studies at Carnegie Mellon University, points out that these nominations differ from past K-pop Grammy nominations because “Golden,” “APT.” and Katseye all feature “a mainstream popular music factor.”

That's the connection of a massive popular Netflix film (“Kpop Demon Hunters”), a collaboration with Bruno Mars (“APT.”), and Katseye's international membership and Netflix series (“Pop Star Academy: Katseye”), respectively.

“It tells you that K-pop is not considered as something niche anymore,” he says. “Now, when we think about pop music in general, we also think of K-pop as part of it.”

Bernie Cho, industry expert and president of the South Korean agency, the DFSB Kollective, agrees that there is an international, mainstream appeal to the nominees.

“All the nominees represent a sort of post-idol K-pop, in the sense that Rosé, the three ladies of HUNTR/X and Katseye represent the globalized version of K-pop, where the ‘K’ is very much there, but some people might argue it’s silent. The songs are not necessarily for Korea, by Korea, from Korea, just kind of beyond Korea,” he says. “It’s a celebration and testament to how diverse and dynamic K-pop has become.”

Why are these acts being recognized now? “For years, the Recording Academy has snubbed K-pop acts that have set record-breaking standards, such as BTS, Seventeen and Stray Kids,” argues Jeong. “I think one of the main reasons is that the Western world is still so resistant to non-English lyrics.”

“It does not surprise me that ‘APT.’ and Katseye’s music, which mainly contain English lyrics and seem less K-pop, were nominated,” she continues.

Berbiguier adds that “is a reflection of K-pop nowadays, like, trends: the fact that there’s less and less Korean and more and more English.”

There may be an additional factor at play. Tamar Herman, a music journalist and author of the “Notes on K-pop” newsletter, says many critics and industry voices found 2025 to be a lackluster year for new pop music in the US — a fact that was all but confirmed in Luminate's 2025 Mid-Year Report, which found that streams of new music had slowed compared to the year prior, potentially due to a dearth of megahits dominating the charts.

“Yes, it's a big moment for K-pop, but it is so overdue, these recognitions are more of a sign of how poorly the music industry in the US did this year that we're looking externally,” she says.

She argues that acknowledgment of Korean entertainment from US entertainment industries is more symbolic of US cultural dominance slipping than “K-pop being really good, because K-pop has been really good for a really long time,” she says. “This is all recognition of just global storytelling improvement, global taste-making improvement.”

“I don't want to diminish it,” she adds. “These are all universally friendly, accessible, good pop songs.”

And if they weren't, they wouldn't connect.

“It's very obvious that they’re not just performers. They're artists. They're singers. They're songwriters,” says Cho.

Will a K-pop artist win a Grammy for the first time this year? The jury is still out.

“I think it’s not even a matter of if or when. It’s going to be who and how many,” says Cho.

Others are less committal. “It's hard to predict,” says Berbiguier. “For me, it's more possible that ‘Golden’ gets one.”

“Yes and no,” offers Herman. For her, it depends on an evolving and fluid definition of K-pop. After all, HUNTR/X is a fictional girl group from an animated film that did not debut through the K-pop music industry system. Would a victory for their song “Golden” mean a victory of K-pop? That's a matter of opinion.