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Fri, 27 Feb 2026

Fri, 27 Feb 2026 Netflix drops bid for Warner Bros, clearing way for Paramount takeover

Netflix's decision to back down from the bidding war clears the path for Paramount to win the takeover battle.
Paramount Skydance has emerged as the winner of the bidding war for Warner Bros Discovery, after Netflix backed out of its proposal due to concerns over the deal's financial attractiveness. Paramount had increased its offer by $1 per share just days ago, making it a "superior" bid according to Warner Bros. Warner Bros announced that it would be accepting Paramount's offer, citing superior value and certainty for its shareholders. However, this decision is still subject to regulatory approval from the US Department of Justice and European regulators. The potential merger has significant implications for the media landscape, with Paramount set to gain control of iconic studios like Warner Bros, as well as popular networks such as CNN, HBO Max, and the Food Network. Notably, Trump had expressed support for a deal that would result in the sale of CNN, calling it a "corrupt or incompetent" news network. However, California Attorney General Rob Bonta has stated that any potential merger will be thoroughly reviewed by his office, with concerns raised over potential regulatory issues. Paramount's ownership of Warner Bros could lead to significant changes in Hollywood, including job losses and a shift in the industry's power dynamics.