Netflix bows out of Warner Bros. bid, Paramount set to win
Mar 10th 2026
Paramount Skydance's $31 per share offer beat Netflix's $27.75 bid, freeing Warner Bros. Discovery's board to pursue a full-company sale that would merge major studios and networks and raise antitrust and editorial concerns.
- Paramount Skydance offered $31 per share, topping Netflix's $27.75 proposal.
- Netflix declined to match Paramount's bid, saying the price made the deal no longer financially attractive.
- Warner Bros. Discovery's board can now terminate the Netflix agreement and move forward with Paramount's merger agreement.
- Paramount seeks the entire company including networks like CNN and CBS, while Netflix had targeted only Warner's studio and streaming assets.
- A combined Paramount Skydance and Warner would bring together HBO Max and Paramount+ and could reshape Hollywood and news ownership.
- Lawmakers, trade groups and critics warn the deal could mean job cuts, editorial shifts, reduced diversity in filmmaking, and higher costs for consumers.