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Battle for Warner Bros heats up as Paramount's best and final offer submitted
| United Kingdom | general | ✓ Verified - news.sky.com

Battle for Warner Bros heats up as Paramount's best and final offer submitted

#Warner Bros Discovery #Paramount Skydance #Netflix #Takeover bid #Media consolidation #$31 per share #Corporate acquisition

📌 Key Takeaways

  • Paramount Skydance increased its offer to $31 per share for WBD
  • Netflix has offered $27.75 per share for parts of WBD
  • The takeover battle could significantly impact TV, filmmaking, and cinema
  • Paramount Skydance has used legal threats and shareholder approaches in its takeover attempt

📖 Full Retelling

Paramount Skydance submitted a revised $31 per share offer for Warner Bros Discovery on Wednesday 25 February 2026, intensifying the takeover battle for the media giant that has so far rejected the bid while competing against Netflix's acquisition attempts. The entertainment conglomerate behind Paramount Pictures and CBS announced this improved offer, which surpasses their initial $30 tender, putting additional pressure on WBD's board to consider the deal. WBD responded by stating that the upped Paramount Skydance offer "could reasonably be expected to lead to a company superior proposal," acknowledging that it might now exceed the existing Netflix offer in value. The battle for control of WBD, which owns DC Studios, HBO, and CNN among its brands, has intensified as multiple suitors vie for different components of the media conglomerate. Streaming giant Netflix has consistently been the preferred partner and has already signed an agreement with WBD, recently boosting its offer to $27.75 cash per WBD share for the production and streaming components. However, the competition differs fundamentally as Paramount Skydance seeks to acquire the entirety of WBD, while Netflix is only interested in certain parts of the business. This high-stakes corporate drama comes at the end of a week extension granted by the WBD board with Netflix's permission, leaving Netflix with only four days to submit a revised proposal or abandon its pursuit of WBD assets.

🏷️ Themes

Corporate Takeover, Media Industry, Business Competition

📚 Related People & Topics

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Takeover

Purchase of a company by another company

In business, a takeover is the purchase of one company (the target) by another (the acquirer or bidder). In the UK, the term refers to the acquisition of a public company whose shares are publicly listed, in contrast to the acquisition of a private company. Management of the target company may or ma...

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Concentration of media ownership

Control of mass media

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Paramount Skydance

Paramount Skydance

American mass media conglomerate

Paramount Skydance Corporation (doing business as Paramount) is an American multinational mass media and entertainment conglomerate. The company is headquartered at the Paramount Pictures lot in the Hollywood neighborhood of Los Angeles, California, with multiple of Paramount's divisions and subsidi...

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Warner Bros. Discovery

American mass media and entertainment conglomerate

Warner Bros. Discovery, Inc. (WBD) is an American multinational mass media and entertainment conglomerate headquartered in New York City.

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Entity Intersection Graph

Connections for Netflix:

🌐 Paramount 12 shared
👤 Donald Trump 9 shared
👤 Susan Rice 8 shared
🏢 Paramount Skydance 7 shared
🏢 Warner Bros. Discovery 6 shared
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Mentioned Entities

Netflix

Netflix

American video streaming service

Takeover

Purchase of a company by another company

Concentration of media ownership

Control of mass media

 Paramount Skydance

Paramount Skydance

American mass media conglomerate

Warner Bros. Discovery

American mass media and entertainment conglomerate
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Original Source
Breaking Breaking Battle for Warner Bros heats up as Paramount's best and final offer submitted A takeover would be one of the biggest media deals in history, with significant impacts on TV, filmmaking and possibly the future of the cinema. Sarah Taaffe-Maguire Business and economics reporter @taaffems Wednesday 25 February 2026 01:16, UK Why you can trust Sky News Paramount Skydance has offered even more money for Warner Bros Discovery , adding pressure on the media giant to accept a bid it has so far rejected. The entertainment conglomerate behind film production company Paramount Pictures and TV network CBS, announced a revised, best and final offer of $31 per WBD share and additional fees - an improvement on its initial $30 tender . Such a share bid has led WBD to say it could beat the existing Netflix offer, hotting up the fight for control of WBD, which counts comic book filmmakers DC Studios, TV network HBO and news channel CNN among its brands. A statement from WBD said the upped Paramount Skydance offer "could reasonably be expected to lead to a company superior proposal". Money blog: 'Sporadic shortages' of items on shelves as supply hit Competing to acquire the film and TV production as well as the streaming components of WBD , is streaming giant Netflix . While Netflix has consistently been the preferred and has signed an agreement with WBD, it boosted its offer to $27.75 (£20.63) cash per WBD share. The competition, however, is for slightly different things. Paramount Skydance wants to acquire the entirety of WBD, not just a production and streaming spin-off. The best and final offer from Paramount Skydance comes at the end of a week extension granted by the WBD board, with the permission of Netflix. Netflix now has four days to submit a revised proposal or quit its quest to acquire part of WBD. Subscribe to our Money newsletter For more information about how we use your data and your rights, you can visit our Privacy Centre . First name Last name Email...
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