Source: CNN
“Warner Bros. Discovery wants to hear Paramount’s ‘best and final proposal’ for the media company, and is opening a brief window for discussions about a bid, while also moving forward with its Netflix merger and urging shareholders to reject Paramount’s current hostile bid. … Last December, WBD agreed to sell most of the company, including the Warner Bros. movie studio and HBO, to Netflix. WBD’s cable channels, including CNN, are not part of the sale. The deal with Netflix doubled as a rejection of Paramount. But Paramount CEO David Ellison responded by going directly to shareholders with a $30-per-share offer for all of WBD, including CNN. That’s the offer WBD is officially opposing. On Tuesday morning, WBD said it will hold a special shareholder meeting on March 20 and will recommend voting to approve the Netflix deal, which values the studio and streaming assets at $27.75 per share.” (02/17/26)
https://www.cnn.com/2026/02/17/media/wbd-netflix-paramount-shareholder-vote-bid