Paramount has escalated its hostile bid for Warner Bros. Discovery in an effort to block the company’s pending $83 billion sale of its studios and streaming assets to Netflix. In a new SEC filing, Paramount said it would pay Warner Bros. Discovery shareholders about $650 million for every quarter the Netflix deal is delayed, starting in 2027.
Paramount also pledged to cover the $2.8 billion breakup fee Warner Bros. Discovery would owe Netflix if the deal collapses, CNN said.
#Paramount is sweetening its bid to block Netflix’s takeover of #WarnerBrosDiscovery.
— Variety (@Variety) February 10, 2026
The company is offering WBD shareholders $0.25 per share (about $650 million in cash) for every quarter the deal isn’t closed after Dec. 31, 2026.
Paramount also pledged to cover #Netflix’s… pic.twitter.com/53RgwXdm41
The company did not raise its existing $30-per-share cash offer for Warner Bros. Discovery. Paramount CEO David Ellison said the proposal offers greater certainty and reduced regulatory risk.
Netflix has pushed back publicly. A senior executive warned that Paramount’s projected synergies could mean billions of dollars in job cuts.
Warner Bros. Discovery says more than 93 percent of shareholders oppose Paramount’s bid. A shareholder vote is expected this spring.
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