"Paramount Skydance CEO David Ellison is apparently still hopeful that investors will approve his $108.4 billion hostile takeover of Warner Bros. Discovery. Paramount Skydance announced Thursday that it's extending its all-cash offer to acquire the storied studio, and giving investors until February 20, 2026 to accept. The company's previous offer expired on January 21, but with a lawsuit in the works and a revised Netflix deal to compete with, Paramount Skydance wants to stay in the conversation."
"Netflix and Warner Bros. Discovery originally announced their $82.7 billion acquisition agreement in December 2025. Netflix's deal is for a significant portion, but notably not all, of Warner Bros. Discovery as it exists today. If approved, the streaming service would acquire Warner Bros. film studios, New Line Cinema, HBO, HBO Max, the company's theme parks, game studios and select linear channels like TNT, but not the collection of reality TV and news programming that Warner Bros. Discovery calls "Global Networks.""
"Paramount Skydance made its competing offer of $108.4 billion for all of Warner Bros. Discovery a few days later in December, with the recommendation that shareholders reject the Netflix deal. To add pressure, Paramount Skydance also sued Warner Bros. Discovery in January alleging that the company had not provided adequate information about why it favored Netflix over Paramount. Beyond offering more money, Paramount contends its deal is more likely to be approved by regulators because owning Warner Bros. doesn't "entrench Netflix's market dominance." Warner Bros. Discovery claims that funding for Paramount's deal "remains inadequate" and that the company is uncertain Paramount Skydance will actually be able to complete the deal."
Paramount Skydance extended an all-cash $108.4 billion offer to acquire Warner Bros. Discovery and set a new investor acceptance deadline of February 20, 2026. Netflix and Warner Bros. Discovery previously agreed to an $82.7 billion deal for a significant portion of the company that would transfer Warner Bros. film studios, New Line Cinema, HBO, HBO Max, the company's theme parks, game studios and select linear channels, excluding the reality TV and news portfolio labeled "Global Networks." Paramount Skydance filed a lawsuit alleging insufficient disclosure and argues its higher all-cash bid faces fewer regulatory obstacles, while Warner Bros. Discovery questions Paramount's financing and ability to close.
Read at Engadget
Unable to calculate read time
Collection
[
|
...
]