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Warner Bros. Confirms Revised Paramount Offer; No Details Released

Warner Bros. Discovery confirmed receiving a revised offer from Paramount Skydance and have it under review, but details were not released.

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Article Summary

  • Warner Bros. Discovery confirms receipt of a revised Paramount Skydance offer, now under review.
  • Details of the new Paramount bid remain undisclosed; previous offer stood at $30 per share for all assets.
  • The board continues to back the ongoing Netflix deal despite fresh interest from Paramount Skydance.
  • WBD shareholders are urged to wait; full review and decision updates are expected in the coming days.

Earlier this month, Warner Bros. Discovery (WBD) announced that Netflix had approved a seven-day window for talks between WBD and David Ellison's Paramount Skydance after Paramount Skydance adjusted its hostile bid offer to shareholders. The goal was to give Paramount Skydance an opportunity to offer its best bid, with talks set to expire this past Monday. Additionally, the WBD board set a March 20th date for a full shareholders meeting to officially sign off on the WBD-Netflix deal – with the WBD board continuing to recommend the Netflix deal to shareholders as the best course of action. Of course, a lot has happened over the past seven days that has dialed up the drama to a "Spinal Tap"-loving 11, including the Trump Administration getting way too involved in the dealings on social media, Trump's Department of Justice launching an investigation into Netflix's influence across the entertainment industry, and the perception that Ellison's Paramount Skydance is a little too Trump-friendly continuing to grow.

Warner Bros
Image: Fandango YT Screencap; Netflix

That brings us to today, with WBD confirming that a revised offer from Paramount Skydance has been received and is being reviewed alongside financial and legal advisors. No details of the revised offer were released, including whether Paramount Skydance has increased its current offer of $30 per share for the entire company (as opposed to Netflix, which is looking to purchase WBD's streaming service and studios). "We will update our shareholders following the Board's review. The Netflix merger agreement remains in effect, and the Board continues to recommend in favor of the Netflix transaction. WBD shareholders are advised not to take any action at this time with respect to the amended PSKY tender offer," was the statement from WBD earlier today, a little more than an hour before Wall Street's opening bell. Another important date to keep in mind is this Thursday, Feb. 26th: Warner Bros. Discovery will report its fourth-quarter and full-year 2025 results at 8 am ET via conference call, with details available on WBD's website.

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Ray FlookAbout Ray Flook

Serving as Television Editor since 2018, Ray began five years earlier as a contributing writer/photographer before being brought onto the core BC team in 2017.
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