Paramount

PARAMOUNT COMMENTS ON WARNER BROS. DISCOVERY BOARD'S DETERMINATION OF PARAMOUNT'S PROPOSAL AS SUPERIOR

CBS News

Netflix drops $83 billion bid for Warner Bros. Discovery, paving way for Paramount Skydance deal

BBC News

Netflix drops Warner Bros bid, clearing way for Paramount takeover

New York Post

Netflix breaks silence after losing Warner Bros. Discovery to Paramount Skydance

Breitbart

Netflix Backs Out of Warner Bros. Deal as Paramount Wins Bidding War

Netflix

Netflix Declines to Raise Offer for Warner Bros.

Netflix and Warner Bros. Discovery Amend Agreement to All-Cash Transaction

Warner Bros. Discovery

Warner Bros. Discovery Board of Directors Determines Revised Proposal from Paramount Skydance Constitutes a

Netflix to Acquire Warner Bros. Following the Separation of Discovery Global for a Total Enterprise Value of $82.7 Billion (Equity Value of $72.0 Billion)

Paramount Launches All Cash Tender Offer Acquire Warner Bros

Metaculus

Top Movies in 2050 Primarily Franchises

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Netflix and Warner Bros. Discovery announced in December 2025 a definitive agreement for Netflix to acquire Warner Bros. for $27.75 per share, with a total enterprise value of approximately $82.7 billion. The transaction was later amended in January 2026 to an all-cash structure.

Netflix and Warner Bros. Discovery announced in December 2025 a definitive agreement for Netflix to acquire Warner Bros. for $27.75 per share, with a total enterprise value of approximately $82.7 billion. The transaction was later amended in January 2026 to an all-cash structure.

Paramount Skydance made a competing offer to acquire Warner Bros. Discovery for $31 per share in all cash, which the WBD Board of Directors determined constituted a "Company Superior Proposal" under the terms of the Netflix merger agreement.

Paramount Skydance made a competing offer to acquire Warner Bros. Discovery for $31 per share in all cash, which the WBD Board of Directors determined constituted a "Company Superior Proposal" under the terms of the Netflix merger agreement.

Netflix co-CEOs Ted Sarandos and Greg Peters announced on February 26, 2026 that the company would not match Paramount Skydance's offer, stating the deal was "no longer financially attractive" and was "a nice to have at the right price, not a must have at any price."

Netflix co-CEOs Ted Sarandos and Greg Peters announced on February 26, 2026 that the company would not match Paramount Skydance's offer, stating the deal was "no longer financially attractive" and was "a nice to have at the right price, not a must have at any price."

Paramount Skydance's proposal included a $7 billion regulatory termination fee payable if the transaction failed due to regulatory matters and an agreement to pay the $2.8 billion termination fee that WBD would owe Netflix for ending their existing merger agreement.

Paramount Skydance's proposal included a $7 billion regulatory termination fee payable if the transaction failed due to regulatory matters and an agreement to pay the $2.8 billion termination fee that WBD would owe Netflix for ending their existing merger agreement.

The proposed Netflix acquisition of Warner Bros. would have combined franchises including Game of Thrones, Harry Potter and The Sopranos with Netflix titles such as Stranger Things, Bridgerton and Squid Game, creating what executives described as an extraordinary entertainment offering.

The proposed Netflix acquisition of Warner Bros. would have combined franchises including Game of Thrones, Harry Potter and The Sopranos with Netflix titles such as Stranger Things, Bridgerton and Squid Game, creating what executives described as an extraordinary entertainment offering.

Concerns were raised about the potential impact on CNN, which is owned by Warner Bros. Discovery, given Paramount backer Larry Ellison's ties to President Donald Trump, who has frequently criticized the news network and called for its sale as part of any Warner Bros. deal.

Concerns were raised about the potential impact on CNN, which is owned by Warner Bros. Discovery, given Paramount backer Larry Ellison's ties to President Donald Trump, who has frequently criticized the news network and called for its sale as part of any Warner Bros. deal.

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US Midterms: Media Mergers

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