WBD gives Paramount another week for ‘best and final offer’

Warner Bros. Discovery is giving Paramount Skydance another shot at acquiring it. 

WBD, which has already forged an agreement for Netflix to acquire its film studio, streaming and HBO network, announced Feb. 17, 2026, that it is reopening talks with Paramount for a week.

WBD previously rejected Paramount’s $30-per-share offer and says it will give the company until Feb. 23, 2026, to make its “best and final offer.” 

The statement also noted, citing an unnamed senior representative, that Paramount might be willing to increase its offer to $31 per share. Paramount, however, is offering to buy all of WBD, including its shrinking linear TV businesses. 

Netflix’s deal is valued at $27.75 per share for a total of around $82.7 billion, though it’s important to note that the two offers can’t necessarily be directly compared because Netflix’s excludes the linear assets. 

It was not clear if Netflix might be given the chance to counter a potential Paramount offer.