Warner Bros. Discovery Reviews Higher Paramount Bid

Warner Bros. Discovery said Tuesday it has received a higher takeover proposal from Paramount Skydance, adding a new twist to its pending deal with Netflix. The company said the revised Paramount offer was submitted during a seven-day waiver period that allowed renewed talks despite an existing merger agreement with Netflix.

Under that agreement, Netflix would acquire Warner Bros. Discovery’s studio and streaming assets. Paramount’s proposal seeks to buy the entire company.

Warner Bros. Discovery says Paramount makes higher bid, board will weigh offer against Netflix deal https://t.co/pcurnCI7mT

— CNBC (@CNBC) February 24, 2026

Warner Bros. Discovery said its board is reviewing the new bid with financial and legal advisers. The company stressed that the Netflix agreement remains in force and that the board continues to recommend the Netflix transaction.

Shareholders were advised not to take any action while the review is underway. The board said it will provide an update once its evaluation of the Paramount proposal is complete.

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