Warner Bros announced that Paramount Skydance's offer was more advantageous than the existing agreement with Netflix – and the streaming giant subsequently withdrew from the battle. The story of this acquisition began in December this year, when Warner Bros signed an agreement with Netflix worth approximately $83 billion. The latest version of Paramount's offer values Warner Bros. at approximately $111 billion, including debt, offering $31 per share in cash. Paramount also promised a $7 billion fee if regulators blocked the transaction, which significantly reduced the risk for Warner Bros. shareholders. The whole battle for Warner Bros. is symptomatic of broader consolidation in the media industry.

Source: CNN February 27, 2026 19:15 UTC