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Paramount Submits Higher Offer for Warner Bros Discovery in Bid to Block Netflix, Source Says
- On February 23, 2026, Paramount Skydance submitted a higher offer for Warner Bros Discovery, escalating the bidding war after Warner set a seven-day window that expired on February 23, while Netflix retains the right to match any new proposal.
- Facing financing concerns, Paramount sweetened its terms by improving its $30 per share offer, backed by Larry Ellison, to address Warner Bros' financing worries.
- Warner turned down an enhanced bid that would have paid a $2.8 billion termination fee and added a 25-cent per-share quarterly ticking fee, while Warner plans to spin off Discovery Global valued between $1.33 and $6.86 per share.
- Shareholders will decide on March 20, and the deal faces scrutiny from the U.S. Department of Justice and European Union and UK competition authorities, with Ancora Capital increasing pressure via a roughly $200 million stake.
- Paramount's offer would create a studio bigger than Disney, reshaping market share amid U.S. senators' concerns, while Netflix argues its HBO Max deal would make it the largest global streamer with roughly half a billion subscribers.
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Paramount is raising its bid and may buy out the deal Warner Bros. previously signed with Netflix.
·Netherlands (Kingdom of the)
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BN Daybreak: Trump’s SOTU; Budget preview; streaming wars; Meta’s AMD spend; Dimon’s warning; Eskom
In today’s BN Daybreak, we open with Bloomberg News Now on President Trump’s first State of the Union of his second term — delivered just days after the Supreme Court overturned his emergency tariffs — as the White House sharpens its economic message ahead of the year’s political battles. We then shift to the streaming wars, where Warner Bros. Discovery weighs a revised Paramount/Skydance offer — a $31-a-share cash bid — against its existing Net…
Paramount brings Warner back to the negotiating table with significantly improved conditions. Netflix now has four days to improve the offer.
·Vienna, Austria
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Coverage Details
Total News Sources244
Leaning Left46Leaning Right24Center75Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 32%
C 52%
R 16%
Factuality
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