US EditionWarner 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.
242 Articles
242 Articles
East Bay Times
siliconvalley.comWarner 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, …
The Warner-Netflix-Paramount Triangle Isn't Over Yet
Warner Bros. Discovery is putting Netflix on pause, at least briefly, to hear out a last-ditch pitch from the streamer's rival. On Tuesday, Warner said it has reopened talks with Paramount after the bidder signaled it would lift its all-cash hostile offer to at least $31 a share, up from...
Warner Bros. Discovery Restarts Deal Talks with Paramount
Warner Bros. Discovery said on Tuesday that it would restart the deal talks with Paramount Skydance that it ended in December, giving the company another chance at besting Netflix for a deal. Paramount will have until Feb. 23 to negotiate its best and final offer. Warner Bros. Discovery last year rejected Paramount’s offer to buy the entire company for $108 billion in favor of a deal to sell only its streaming and studios business to Netflix for…
Warner Bros. reopening takeover talks with Paramount, but Netflix deal still favoured
Netflix, the preferred bidder to buy Warner Bros.' studio and streaming businesses, has given Warner a seven-day waiver to reopen talks with Paramount. The companies now have until Monday of next week to work out a possible deal, which Netflix would be allowed to match.
Warner Bros. Discovery Gives Paramount 7 Days to Clarify Offer
Warner Bros. Discovery Tuesday gave some hope to Paramount Skydance’s long-shot bid to buy the company, giving PSKY until Feb. 23 to submit its “best and final proposal” in a bidding war with Netflix. The WBD Board of Directors sent a letter to Paramount Chairman David Ellison and Paramount’s board on Tuesday, giving the group seven days to “clarify” its proposal. Netflix and Paramount have been jockeying for months over the sale of Warner Bros.…
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