Warner Bros. Discovery reopened takeover negotiations with Paramount Skydance after Netflix granted a seven-day waiver on February 18, 2026. The waiver permits discussions through February 23, 2026, to address unresolved deficiencies in Paramount's offer. Paramount's current bid stands at $30 per share in all-cash, though a senior Paramount representative indicated willingness to pay $31 per share if talks resumed. Paramount has stated its offer is not its best and final. Warner Bros. Discovery's board continues to unanimously recommend the Netflix deal, valued at $27.75 per share. The company announced a special shareholder meeting scheduled for March 20, 2026. After the seven-day period expires, Netflix retains matching rights under its merger agreement with Warner Bros. Discovery. Stock prices for PSKY, NFLX, and WBD rose following the announcement.
Read full analysisWarner Bros. Discovery reopened takeover negotiations with Paramount Skydance after Netflix granted a seven-day waiver on February 18, 2026. The waiver permits discussions through February 23, 2026, to address unresolved deficiencies in Paramount's offer. Paramount's current bid stands at $30 per share in all-cash, though a senior Paramount representative indicated willingness to pay $31 per share if talks resumed. Paramount has stated its offer is not its best and final. Warner Bros. Discovery's board continues to unanimously recommend the Netflix deal, valued at $27.75 per share. The company announced a special shareholder meeting scheduled for March 20, 2026. After the seven-day period expires, Netflix retains matching rights under its merger agreement with Warner Bros. Discovery. Stock prices for PSKY, NFLX, and WBD rose following the announcement.
Paramount Skydance is a major entertainment conglomerate that owns CBS, MTV, Paramount Pictures, and the Paramount+ streaming service, formed through the 2024 merger of Paramount Global and Skydance Media. The company is currently engaged in an aggressive hostile takeover bid for Warner Bros. Discovery, competing directly against Netflix for control of HBO Max and the Warner Bros. film studio — the central catalyst driving today's share price move.