miércoles, 18 de febrero de 2026

Warner Bros Seeks Better Paramount Offer Against Netflix

Warner Bros. Discovery (WBD) has extended the deadline for Paramount to present its best and final offer, creating a temporary window to potentially derail the existing merger agreement with Netflix. While WBD has formally recommended its shareholders vote in favour of the Netflix deal, scheduled for a special meeting on March 20, the company is simultaneously re-engaging with Paramount.

Warner Bros Seeks Better Paramount Offer Against Netflix

This move is facilitated by a limited waiver from Netflix, allowing WBD to discuss terms with Paramount Global for a seven-day period ending February 23, 2026. The objective is to gain clarity for WBD stockholders and provide Paramount the opportunity to submit a superior proposal. Notably, the merger agreement with Netflix includes a matching right, enabling Netflix to counter any competing offer from Paramount.

WBD's board, led by Chairman Samuel Di Piazza Jr. and CEO David Zaslav, has explicitly stated that Paramount's current proposal is not yet deemed superior to the Netflix offer. However, they are open to exploring whether Paramount can deliver a binding offer that presents better value, certainty, and interim protections for WBD shareholders. Netflix recently sweetened its $72 billion offer by agreeing to an all-cash payment, aiming to fend off Paramount's bid for the entire WBD company. Paramount's offer of $31 per share is for the whole entity, whereas Netflix's deal focuses on the streaming and studio divisions and is set at $27.75 per share.

WBD has also pressed Paramount to match the terms of the Netflix agreement, which are described as binding and providing more control to WBD shareholders. Concerns have also be en raised about Paramount's financial standing, with WBD highlighting Netflix's stronger financial position. Meanwhile, the proposed Netflix-WBD merger is under scrutiny regarding its potential impact on streaming consumers, though Netflix co-CEO Ted Sarandos maintains the services would be complementary and offer better value.

Fuente Original: https://arstechnica.com/tech-policy/2026/02/warner-bros-gives-paramount-one-more-week-to-beat-netflix-merger-offer/

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