Paramount Skydance Eyes $32 Bid for Warner Bros. Discovery

SelfRugger · 2026-03-03T05:32:20+00:00

Paramount Skydance is preparing a $32 per share bid for Warner Bros. Discovery, surpassing a previous offer. The proposal may include fees if regulatory delays occur, as Netflix can match competing offers. A shareholder vote is scheduled for March 20.

SelfRugger

2026-03-03 05:32:20

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Paramount Skydance Eyes $32 Bid for Warner Bros. Discovery

Faizan Farooque

Tue, February 24, 2026 at 1:28 AM GMT+9 1 min read

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This article first appeared on GuruFocus.

Paramount Skydance Corporation (PSKY, Financials) is likely to submit a $32 per share offer for Warner Bros. Discovery, Inc., according to a Variety report citing industry sources.

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The potential bid would exceed Paramount’s earlier indication that it was willing to pay more than $31 per share if discussions resumed. Warner Bros. Discovery has given Paramount a deadline to submit a best and final offer.

The report said Paramount’s proposal could include a ticking fee payable to Warner shareholders if regulatory approval is delayed, along with funding for a $2.5 billion termination fee tied to Warner’s existing agreement with Netflix, Inc…

Netflix retains the right to match any competing offer under the terms of its signed deal with Warner Bros. Discovery. Co-CEO Ted Sarandos said the company has a history of disciplined bidding and is willing to walk away if prices rise too high.

Paramount disclosed that the U.S. antitrust waiting period under the Hart-Scott-Rodino Act for its all-cash proposal has expired, removing a statutory hurdle to closing a transaction.

Warner Bros. Discovery is scheduled to hold a special shareholder meeting on March 20 to vote on the Netflix deal. Investors will watch closely to see whether a higher bid materializes before the deadline and how Netflix responds.

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