Paramount Skydance submitted a higher offer for Warner Bros Discovery, a source familiar with the matter told Reuters, ratcheting up efforts to derail the HBO Max owner's deal with Netflix. Warner Bros and Paramount declined to comment, while Netflix could not immediately be reached. Variety in a report late on Monday said that Warner Bros was likely to take the Paramount offer under review while still recommending the Netflix pact to its shareholders. Warner Bros plans to spin off its cable TV assets, such as CNN and HGTV, into Discovery Global, which could fetch between $1.33 and $6.86 a share, according to Warner Bros' estimates. But its argument that it needs Warner Bros to compete with YouTube, America's most-watched TV distributor, is likely to face pushback from the Department of Justice.

Source: Irish Examiner February 24, 2026 07:49 UTC