Paramount has 1 week to outbid Netflix for Warner Bros
Warner Bros. Discovery just threw a curveball—after Netflix's $82.7 billion offer (reported in February 2026), it has given Paramount one week to make a final bid.
All this is happening while everyone's wondering what'll happen to big names like HBO Max and Warner Bros.'s studios.
Paramount's offer is now at about $30 per share
Paramount is upping its offer to about $30 per share and adding a $2.8 billion break fee that Warner would have to pay Netflix if it pulled the plug on the Netflix deal, plus a ticking fee of $0.25 per share for every quarter the deal does not close.
Investors are worried about the potential impact on their shares
Netflix wants only the entertainment side (no CNN or HGTV), while Paramount wants everything—giving shareholders more clarity on what they'd get.
Some investors have voiced concerns about the Netflix plan.
This bidding war could totally reshape who controls your favorite shows and streaming platforms.