Warner Bros. Discovery is reportedly considering whether to reopen takeover discussions with Paramount Skydance after receiving a revised acquisition proposal, according to a Bloomberg report. Sources indicate that members of WBD’s board are reviewing whether the updated offer could deliver a more favorable outcome for shareholders, though no final decision has been reached.
Despite the renewed interest, the board may still move forward with its existing agreement with Netflix, underscoring the strategic crossroads the company currently faces. Paramount’s amended proposal does not raise its original offer price of $30 per share, which values Warner Bros. Discovery at approximately $108.4 billion, including debt. However, the bid introduces additional financial sweeteners aimed at improving its overall appeal.
To compensate for potential delays, Paramount has proposed paying shareholders an extra 25 cents per share for every quarter the transaction remains incomplete after 2026. These payments would commence in 2027 and continue until the deal is finalized, offering investors incremental value over time. Additionally, Paramount has committed to covering the $2.8 billion termination fee that Warner Bros. Discovery would incur if it were to exit its current agreement with Netflix-an assurance designed to reduce financial risk for WBD.
Both Paramount and Netflix are vying for control of Warner Bros. Discovery due to its prized film and television studios, extensive content library, and globally recognised franchises. As the streaming and entertainment landscape continues to consolidate, the board’s decision will be closely watched, not only for its impact on shareholders but also for what it signals about the future balance of power in the global media industry.
