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Warner Reopens Talks With Paramount, Setting the Stage for Potential Bidding War With Netflix
- 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.
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56 Articles
56 Articles
Warner Bros. Discovery (WBD) has rejected Paramount Skydance's latest offer, which involves paying $30 per share and a series of additional compensations to break its deal with Netflix. However, the historic film company grants its rival studio in Hollywood seven days to try to reach a better deal to get not only the historic installations in the Mecca of cinema but also the HBO Max platform and Harry Potter saga, as reported by the company itse…
·Spain
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Warner Bros. Discovery resumes negotiations with Paramount after having rejected Netflix’s offer of acquisition: Paramount has promised to improve the offer if negotiations were reopened
·Spain
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Coverage Details
Total News Sources56
Leaning Left19Leaning Right2Center30Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 37%
C 59%
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