🏔 WBD Board Chooses Netflix
The battle for media giant Warner Bros. Discovery (WBD) has entered a new phase. The company’s board of directors has officially recommended that shareholders reject an “inadequate” $108.4 billion offer from Paramount Skydance.
Paramount’s proposal was deemed financially unsustainable due to the massive amount of debt financing involved. The $82.7 billion deal with Netflix is considered more transparent and more attractive in the long term.
Netflix will acquire the studios, HBO, and HBO Max at a price of $27.75 per share. The financing structure does not require review by the Committee on Foreign Investment in the United States (CFIUS).
The deal does not cancel plans to spin off Discovery Global’s linear networks into a separate business in the third quarter of 2026.
Netflix co-CEOs Ted Sarandos and Greg Peters said the merger would create a “dynamic and thriving entertainment industry.” The company is already in talks with U.S. and European antitrust regulators to close the deal as quickly as possible.
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