Warner Bros. Discovery's board still backing Netflix merger
Warner Bros. Discovery (WBD) just got the okay from Netflix to chat with Paramount Skydance (PSKY) about a new offer—this window is open until February 23, 2026.
Even with this, WBD's board is still backing a merger with Netflix and has set a big vote for March 20, 2026.
PSKY is not backing down
PSKY raised its bid to $30 per share in cash, saying it's better value and less risky than Netflix's $21-$27.75 per share offer (which comes with a lot of debt).
PSKY isn't giving up—they're planning to rally shareholders against the Netflix deal.
What's the deal with the Netflix merger?
Netflix's $82.7 billion proposal would spin off some old-school TV channels and combine streaming and studios at nearly $28 per share, plus take on $10 billion in debt.
This setup is supposed to be simpler and safer for WBD as they get ready for that all-important March vote—so if you're following big media shakeups or just want to know who might control your favorite shows soon, keep an eye on this one!