John Oliver Lampshades Paramount’s $31 a Share Bid for Warner Bros. Discovery
Mar 3rd 2026
On Last Week Tonight, John Oliver mocked Paramount’s proposed $31 per share takeover of Warner Bros. Discovery, flagged Netflix’s decision not to up its bid, and raised questions about how HBO might change under new corporate ownership.
- Paramount plans to buy all outstanding WBD shares at $31 per share in cash, with the deal expected to close in Q3 2026 pending regulatory clearances and WBD shareholder approval.
- WBD called Paramount Skydance’s bid a superior proposal to an existing agreement with Netflix, and Netflix declined to raise its offer.
- Oliver noted the irony that Last Week Tonight airs on HBO, which is part of WBD, and joked about suddenly having a new corporate owner.
- He warned that a Paramount takeover could pull HBO closer to a broadcast style corporate structure and potential FCC sensitivity.
- Oliver referenced past digs at Paramount and used on air jokes and profanity to underline concerns about corporate control of HBO.