Key Points
- John Oliver addressed Paramount’s proposed acquisition of Warner Bros. Discovery (WBD) during Last Week Tonight.
- The comedian described the potential deal as “not great news”, joking about having a new “business daddy.”
- Paramount has offered $31 per share in cash for WBD, with the deal expected to close in Q3 2026, pending approvals.
- Oliver has previously criticized the idea, saying Paramount is “not my real business daddy.”
- The bid gained traction after Netflix withdrew its competing offer, calling it financially unattractive.
Oliver’s On-Air Reaction
During Sunday’s episode of Last Week Tonight, John Oliver used his opening monologue to weigh in on Paramount’s proposed acquisition of Warner Bros. Discovery, the parent company of HBO.
“We might be getting a new business daddy!” Oliver quipped, before adding: “Yeah, not great news. In fact, if I may quote anyone who’s ever accidentally sat on their Roku remote, I’m in Paramount now…how the f— do I get out of here?”
The Proposed Deal
Paramount announced plans to acquire all outstanding shares of WBD for $31 per share in cash. The transaction, if approved by regulators and shareholders, is expected to close in the third quarter of 2026.
The deal positions Paramount Skydance as the leading bidder after Netflix formally declined to increase its offer. Netflix co-CEOs Ted Sarandos and Greg Peters said the acquisition was “no longer financially attractive.”
Oliver’s History of Criticism
Oliver has long been skeptical of a Paramount-WBD merger. When early discussions surfaced in 2025, he publicly urged Paramount to stay away, declaring: “You are not my real business daddy, and you never will be!”
His latest comments continue that theme, reflecting unease about how the acquisition could affect HBO and its programming.
Context: Industry Shake-Up
The proposed deal comes amid a wave of consolidation in the entertainment industry, as major studios and streamers compete for dominance in a crowded market. Paramount’s bid for WBD underscores the ongoing battle for scale and content libraries, with HBO’s prestige programming seen as a valuable asset.
What Happens Next?
The acquisition remains subject to regulatory review and shareholder approval. If completed, it would mark one of the largest media mergers in recent years. For now, Oliver’s sharp commentary highlights the uncertainty—and humor—that often accompanies industry shake-ups.
