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Warner Reopens Talks With Paramount, Setting the Stage for Potential Bidding War With Netflix
Warner Bros. Discovery received a seven-day waiver from Netflix to engage Paramount Skydance for a best and final $31+ per share offer before a March 20 shareholder vote.
- On Feb. 17, 2026, Warner Bros. Discovery reopened talks with Paramount Skydance under a seven-day Netflix waiver through February 23, 2026, rejecting Paramount's $30-a-share offer but allowing a `best and final` offer, Discovery said.
- Paramount Skydance's hostile $30 bid prompted talks, with Paramount indicating it could raise to $31 if negotiations reopened, despite unresolved financing risks from Larry Ellison-backed equity and a $1.5 billion junior-lien fee.
- WBD continues to recommend the $82.7 billion Netflix transaction and is moving toward a March 20, 2026 vote, having started mailing its definitive proxy statement with a February 4, 2026 record date.
- With Netflix holding matching rights, the WBD board faces legal safeguards and pressure from activist investors Ancora and Pentwater, who support different bids, by February 23.
- Longer-Term, control of franchises and studios will reshape production investment and industry dynamics, while Discovery Global could fetch between $1.33 and $6.86 per share, impacting asset value.
278 Articles
278 Articles
Warner Bros. sets a deadline of 7 days to Paramount in tension by agreement with Netflix. Although it seems that everything is moving towards the acquisition of Warner Bros. by Netflix, the company Paramount Skydance could launch a final offer.Revelan that Warner Bros. set a deadline of 7 days to Paramount in tension by agreement with Netflix After multiple rejections, Warner Bros.'s board of directors announced a deadline of 7 days to Paramount…
Warner Bros reopens takeover talks with Paramount after receiving a waiver from Netflix (copy)
NEW YORK — Warner Bros. Discovery briefly reopened takeover talks with Skydance-owned Paramount to hear the company's "best and final" offer, while the Hollywood giant continues to back the studio and streaming deal it struck with Netflix.
Warner Bros. Discovery to collaborate with Paramount Skydance
Paramount still wants to buy Warner, and the latter has announced that it will resume talks with a rival media company. Warner has given Paramount seven days to make a final offer.
East Bay Times
Warner Bros. reopens talks as Paramount signals higher bid
By Michelle F. Davis and Lucas Shaw, Bloomberg Warner Bros Discovery Inc. has agreed to reopen negotiations with rival Hollywood studio Paramount Skydance Corp. after the suitor proposed raising its bid and sweetened other terms of its offer, setting the stage for a renewed showdown with Netflix Inc. Netflix, which Warner Bros. still described as its preferred bidder, has granted the board seven days to discuss Paramount’s most recent proposal, …
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