Paramount Warner Bros Discovery Takeover Bid 2026: Hostile Offer Extended to February
Paramount Skydance has extended its $108 billion hostile takeover bid for Warner Bros Discovery to February 20, 2026, intensifying its rivalry with Netflix.
The high-stakes battle for Hollywood's future has just entered a new phase. Paramount Skydance has extended its hostile tender offer for Warner Bros Discovery (WBD), buying more time to convince skeptical investors that its $108 billion bid is superior to the existing agreement with Netflix.
Paramount Warner Bros Discovery Takeover Bid 2026 Details
On Thursday, the Ellison-owned media firm pushed the deadline to February 20, 2026. Paramount's offer stands at $30 per share in cash, valuing the enterprise at over $108 billion when including debt. This directly challenges the $72 billion deal Netflix reached in December to acquire Warner's studio and streaming assets.
WBD's board hasn't been moved, repeatedly rejecting Paramount's advances as an "inferior scheme." According to company statements, more than 93% of shareholders have so far sided with the Netflix deal. Paramount, however, accuses Warner’s leadership of rushing the Netflix merger without full transparency regarding the eventual payout to shareholders.
The Trump Factor and Regulatory Uncertainty
Politics are playing a significant role in this corporate saga. Larry Ellison, the Oracle co-founder and father of Paramount CEO David Ellison, is a staunch ally of President Donald Trump. The Ellisons argue that their political ties could provide a smoother regulatory path for a total company acquisition compared to the complex spinoffs required by the Netflix deal.
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