Warner Bros. Weighs Reopening Talks With Paramount

Warner Bros. Discovery is weighing whether to reopen deal talks with Paramount after the studio submitted a new, improved offer last week, two people familiar with the matter who were not authorized to speak publicly said. In December, Warner Bros. Discovery agreed to sell its streaming and studios business to Netflix for $83 billion, having earlier rejected Paramount’s $108 billion bid for the entire company.

Paramount has twice improved its proposal without raising the per-share price and recently agreed to cover the $2.8 billion fee that would be owed to Netflix if its deal were terminated, back Warner Bros. Discovery’s debt costs and pay about $650 million in cash to shareholders starting in 2027 for each quarter the deal does not close.

The board is discussing whether that package could prompt a superior offer; a stipulation in the contract with Netflix allows the company to pursue such bids. If Warner Bros.

warner bros, paramount, netflix, streaming, studios, deal talks, breakup fee, 83 billion, 108 billion, cash payments