Paramount Skydance Raises Bid for Warner Bros Discovery Acquisition, Hollywood Bidding War Escalates — Bloomberg

2026-02-24 02:02:21

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Investing.com - Paramount Skydance Corp (NASDAQ:PSKY) has increased its acquisition bid for Warner Bros Discovery Inc (NASDAQ:WBD), intensifying the high-stakes competition for this historic Hollywood institution. According to Bloomberg, citing sources familiar with the matter, the latest move aims to overturn the existing agreement between Warner Bros. and Netflix.

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This revised offer improves upon the previous all-cash proposal of $30 per share made to shareholders last December. Sources say that to make the deal more attractive, Paramount has addressed longstanding board concerns by offering greater certainty in financing capabilities.

Netflix remains a strong competitor, having previously agreed to acquire Warner Bros.’ film, television, and HBO assets at $27.50 per share. This specific arrangement involves a complex divestment of cable networks, including major media such as CNN and TNT.

Warner Bros. has recently resumed formal negotiations with Paramount, with a one-week negotiation window ending this Monday. If the board finds this new bid more favorable, Netflix will have four days to respond competitively.

Reports indicate that Oracle CEO Larry Ellison, through his family and other investors, is providing over $40 billion in equity support for the deal. Paramount Skydance, formed by the merger of David Ellison’s Skydance Media, views this acquisition as an opportunity to rapidly become a dominant force in the entertainment industry.

The outcome of this battle for the century-old film company could determine the future power dynamics of the global entertainment industry. A victory for Netflix would mark a decisive milestone for the sector’s major disruptor, potentially establishing the most powerful organization in entertainment history.

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