Netflix ditches deal for Warner Bros. Discovery after Paramount's offer is deemed superior

[BumRushDaShow]

Last edited Thu Feb 26, 2026, 05:53 PM - Edit history (2)

Source: CNBC

Published Thu, Feb 26 2026 4:20 PM EST Updated 3 Min Ago


Netflix is walking away from a deal to buy Warner Bros. Discovery’s studio and streaming assets after the WBD board on Thursday deemed a revised bid by Paramount Skydance to be superior.

Earlier this week, Paramount raised its offer to buy the entirety of WBD to $31 per share, up from $30 per share, all cash. It was the latest amendment to Paramount’s multiple offers in recent months — and since moving forward with a hostile bid to buy the company — and it’s now unseated a deal between WBD and Netflix to sell the legacy media company’s studio and streaming businesses for $27.75 per share.

Last week, Netflix granted WBD a seven-day waiver under the terms of their agreement to reengage with Paramount, resulting in the higher bid. Paramount’s offer is for the entirety of WBD, including its pay TV networks, such as CNN, TBS and TNT.

Netflix had four business days to make changes to its own proposal in light of Paramount’s superior bid, the WBD board said in a statement Thursday.

Read more: https://www.cnbc.com/2026/02/26/warner-bros-discovery-paramount-skydance-deal-superior-netflix.html

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Article updated.

Previous articles/headline -

Warner Bros. Discovery deems Paramount Skydance offer superior to Netflix, starting 4-day matching clock

Published Thu, Feb 26 2026 4:20 PM EST Updated 5 Min Ago


Warner Bros. Discovery said Thursday it's valued Paramount Skydance's latest takeover offer as superior to a deal with Netflix, another twist in the ongoing battle for the legacy media assets. Netflix will have four business days to make changes to its own proposal, the WBD board said in a statement.

Earlier this week, Paramount raised its offer to $31 per share, up from $30 per share, all cash. It was the latest amendment to Paramount's multiple offers in recent months -- and since moving forward with a hostile bid to buy the company.

Warner Bros. Discovery agreed in December to sell its studio and streaming businesses to Netflix for $27.75 per share, which values the assets at roughly $72 billion. The deal has a total enterprise value of approximately $82.7 billion.

Last week, Netflix granted WBD a seven-day waiver to re-engage with Paramount, resulting in the higher bid.

Published Thu, Feb 26 2026 4:20 PM EST Updated 4 Min Ago


Warner Bros. Discovery has valued Paramount Skydance's latest offer as superior to Netflix, another twist in the ongoing sale process. Netflix will have four business days to make changes to its own proposal, according to a WBD statement on Thursday.

Paramount raised its offer to $31 per share, up from $30 per share, earlier this week. The bid, which is all cash, was the latest amendment to Paramount's multiple offers in recent months -- and since moving forward with its hostile offer.

Netflix previously agreed to acquire WBD's studio and streaming assets for $27.75 per share in December, which values the assets at roughly $72 billion, with a total enterprise value of approximately $82.7 billion.

Paramount's offer is for the entirety of WBD, including its pay TV networks, such as CNN, TBS and TNT.

Original article -

Published Thu, Feb 26 2026 4:20 PM EST Updated 2 Min Ago


Warner Bros. Discovery has valued Paramount Skydance's latest offer as superior to Netflix, another twist in the ongoing sale process.

Netflix will have four business days to make changes to its own proposal, according to a WBD statement on Thursday.


This is breaking news. Please refresh for updates.

[rurallib]

1. any way you look at it WE lose

[Lovie777]

2. Many times value is more important than money...................

CBS is learning the hard way.

[lostincalifornia]

3. Good, let ellison and his maga thugs spend their billions on an overprice company. Smart move for Netflix. Bill Maher

should feel right at home now.

This is a billionaires game, and I won't contribute to them. Buy buy HBO/MAX

No doubt most will stick with them, just like they did with twitter after the racist nazi from south Africa bought them.

[Indyfan53]

4. Now CNN will be worse

Get ready to boycott HBO and CNN. More fascist propaganda will come from them.

[BumRushDaShow]

5. I expect it will become a "Newsmax2".

[bmichaelh]

6. John Oliver

Hoping this would not happen.

Do not want what happened to Stephen Colbert to happen to John Oliver show.

Oliver did a segment last year critical of Bari Weiss' so-called journalism.

They may not go over very well with the new owners.

[pstokely]

7. isn't CNN already neutered?

Netflix was never interested in CNN or the other Turner networks

[FemDemERA]

8. Lesser of two and all that... I would rather Netflix buys WB than Paramount

And for a reason that I doubt many people care about. In all the news, I've not seen mention of what will happen to all the WB movies that people have purchased digital codes for over the years and have stored on MoviesAnywhere. Paramount movies don't work with MoviesAnywhere, but WB movies do, for the most part. If Paramount owns the rights, I am thinking that all my WB movies will simply disappear from my MA account...

I understand that purchasing a digital copy is not the same as a physical copy and that right to use can be canceled at anytime. For that reason, I have the actual dvd/Blu-ray for most of my movies, but still, would suck to lose the digital availability. Not interested in using other digital services, just won't bother to buy more if they start disappearing from MA.

No guarantees from Netflix either - they probably will want all the movies on their own service - but I'd still rather Netflix than Paramount.

Yup, seems a little silly. With all the things going on in the world, this is what is bothering me, LOL!

[AK Grizz]

11. DO NOT FEEL ALONE

I cannot tell you how angry I am as for one reason is that Warner Bros. has a specific Code of Ethics division you can read on their website. Paramount has no such thing.
Some of my family members have no broadband capability to stream anything so their favorite shows on TNT and TBS will be taken from them if paradogs win this war.

[AK Grizz]

9. I am on the warner website

https://ir.wbd.com/news-and-events/financial-news/financial-news-details/2026/Warner-Bros--Discovery-Board-of-Directors-Determines-Revised-Proposal-from-Paramount-Skydance-Constitutes-a-Company-Superior-Proposal/default.aspx
This info indicates the deal is not done that Netflix has lost. The orangutan tried to take the deal down.

[BumRushDaShow]

12. Various news sources are indicating that Netflix is dropping their bid.

Now whether any final vote by Warner shareholders will accept it or not, is another story altogether!

I know that Paramount is doing this as a hostile takeover.

[hunter]

10. If I worked for Warner Bros. I'd be running for the exit.

This won't end well.

[bmichaelh]

13. Movies Anywhere

Another way these companies are different; WB participates in Movies Anywhere and Paramount does not.

You can buy a movie on Google and watch it either on Apple, Prime, Google, Fandango, etc.

If you want to buy a streaming Paramount movie, you must decide which platform you want to watch.

[FemDemERA]

15. Yes, that was what I was worrying about in my earlier post

I strictly use MA and don't link to other services, so I only purchase movies with "redeemable on MA" codes. I don't use or buy from Google or Prime. I purchased a movie once from Apple years ago and they required me to view on ITunes, so never purchased from them again. I purchased a few movies that I put on Vudu back in the day, but have added none since they were taken over by Fandango. That leaves MA, which I'm pretty happy with.

Will have to wait and see what happens, I suppose.

[pstokely]

16. don't buy digital movies, you don't actually own them like you do with copies on physical media

some of them you can find used cheaper than digital

[SunImp]

14. Ugh