Warner Bros. Discovery Reopens Takeover Talks With Paramount

Warner Bros. Discovery has reopened takeover discussions with Paramount, setting up a renewed bidding showdown as Netflix remains in the mix. The development follows Netflix granting a seven-day waiver to allow Paramount’s proposal to be formally considered.

Warner is still officially backing its signed merger agreement with Netflix, while Paramount has offered approximately $30 per share and indicated it could increase that bid to $31 or higher. Netflix’s competing deal reportedly places a massive valuation on Warner’s studio and streaming assets.

Warner has cautioned that Paramount’s previous offers carried unresolved financial and contractual risks. The board continues to unanimously recommend shareholders approve the Netflix transaction. Paramount now has until around February 23 to submit what is expected to be a “best and final” bid.

Analysts say the outcome of the bidding battle could significantly reshape Hollywood’s power structure.