That sour performance has given fresh ammunition to Paramount's campaign to convince Warner Bros shareholders its offer is better. On Thursday, it said it values the Warner Bros cable spinoff at zero - or even less than that, due to its high leverage and lagging performance. Paramount said the Netflix offer would reduce the cash paid to shareholders if Warner Bros loads more debt onto the merger. Shares of both Warner Bros and Netflix were down nearly 1% each, while those of Paramount ticked up 0.6 per cent. It has promised to honor Warner Bros' theatrical commitments.

Source: The Telegraph January 08, 2026 19:52 UTC