Netflix
is walking away from a deal to buy Warner Bros. Discovery’s
studio and streaming assets after the WBD board on Thursday deemed a revised bid by Paramount Skydance
to be a superior offer.
Earlier this week, Paramount raised its bid to buy the entirety of WBD to $31 per share, up from $30 per share, all cash. It was the latest amendment to Paramount’s multiple offers in recent months — and since moving forward with a hostile bid to buy the company — and it’s now unseated a deal between WBD and Netflix to sell the legacy media company’s studio and streaming businesses for $27.75 per share.
Last week, Netflix granted WBD a seven-day waiver to reengage with Paramount, resulting in the higher bid. Paramount’s offer is for the entirety of WBD, including its pay-TV networks, such as CNN, TBS and TNT.
https://www.cnbc.com/2026/02/26/warner-bros-discovery-paramount-skydance-deal-superior-netflix.html
Netflix walking away is not genius, it is fear dressed as discipline. The company that disrupted Blockbuster is now scared of debt. Paramount owns 100 years of IP. Netflix owns servers and borrowed content. Who wins the next decade when studios stop licensing? Frugality is not a…
— Nell VH (@thenellvh) February 27, 2026