Netflix declined to raise its bid for Warner Bros. Discovery
Warner Bros. Discovery's board deemed Paramount Skydance's proposal superior
This ends Netflix's pursuit of the media giant
The decision reshapes the media landscape and streaming wars
📖 Full Retelling
Netflix has declined to increase its offer for Warner Bros. Discovery on February 26, 2026, after the David Zaslav-led media company's board declared Paramount Skydance's new bid a 'superior proposal.' Per a statement from the streamer, 'Netflix, Inc. today announced that it has declined to raise its offer for Warner Bros. Netflix had earlier received notice from Warner Bros. Discovery that its Board of Directors has determined Paramount Skydance's latest proposal constitutes a 'Superior Proposal' under the terms of WBD's existing merger agreement with Netflix.' This development marks the end of Netflix's ambitious pursuit of acquiring the media conglomerate, which would have significantly expanded the streaming giant's content library and production capabilities. The decision comes after weeks of speculation about the potential mega-merger that would have reshaped the entertainment industry landscape and intensified the already fierce competition in the streaming wars.
# Netflix
**Netflix** is an American subscription video-on-demand (SVOD) over-the-top streaming service. It serves as the primary distribution platform for both original and acquired content, including feature films, television series, documentaries, and specials across a vast array of genres and i...
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...
David Zaslav (; born January 15, 1960) is an American media executive who is the current CEO and president of Warner Bros. Discovery (WBD). Zaslav became CEO and president of Discovery, Inc.
Feb 26, 2026 2:50pm PT It’s Over: Netflix Declines to Raise Bid for Warner Bros. Discovery By Jennifer Maas Plus Icon Jennifer Maas TV Business Writer @jmaasaronson Latest Starz Ends 2025 With 17.6 Million U.S. Subscribers as Losses Narrow Following Lionsgate Split 2 hours ago MotoAmerica Races to Air on Samsung TV Plus in New Deal With V10 Entertainment, FAST Channel to Launch for 2026-2027 Seasons 6 hours ago Scripps CEO Adam Symson Renews Contract Through 2029 Amid Company’s Major Cost-Cutting Plan, Reacquisition of 23 ION Affiliate TV Stations 8 hours ago See All Netflix has declined to increase its offer for Warner Bros. Discovery after the David Zaslav-led media company’s board declared Paramount Skydance’s new bid a “superior proposal.” Per a statement from the streamer, “Netflix, Inc. today announced that it has declined to raise its offer for Warner Bros. Netflix had earlier received notice from Warner Bros. Discovery that its Board of Directors has determined Paramount Skydance’s latest proposal constitutes a “Superior Proposal” under the terms of WBD’s existing merger agreement with Netflix.” Related Stories Island Records’ New Dynasty: With Sabrina, Chappell, Olivia Dean and Lola Young, the Label's Chiefs Explain How It Got So Hot, So Fast
