Paramount has launched a hostile takeover bid of $108.4 billion for Warner Bros Discovery, with the deal including cycling broadcasting rights.
The news comes after a $72 billion bid by Netflix last week for Warner Bros Discovery, where the most valuable parts of the company, its studio and streaming divisions, would be sold to the streaming giant.
Paramount’s proposal differs and encompasses the entirety of Warner Bros Discovery, including the broadcast and promotional rights to professional cycling races, such as the Tour de France, as well as the Mountain Bike World Cup series, through to 2030.
This offer provides a clearer outlook for cycling fans compared to the Netflix deal, which leaves the question of where races would be shown.
Paramount’s proposal would take the form of a hostile takeover, meaning the offer is made directly to Warner Bros Discovery shareholders and its board of directors without consent from the company’s management.
Both deals raise competition concerns, with regulators likely to scrutinise them in the US and Europe.
Paramount has said it could close the deal faster than the one proposed by Netflix, inside 12 months rather than the streaming giant’s projected 12-18 month process.
Whatever happens, it looks unlikely any changes will come into place in time for next season's races.
- Read more: Ned Boulting – The Tour de France is absurd, beautiful and unforgettable, I’ll miss it profoundly
