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Warner Bros. Says Paramount’s $111 Billion Deal Tops Netflix

Warner Bros. Discovery said a new $111 billion offer from Paramount Skydance is a better deal for shareholders than the one it agreed to earlier with Netflix. Netflix will now have four business days to come up with a new proposal that beats Paramount or it will lose the fight for one of the industry’s oldest film and TV studios. Paramount has offered $31 a share for all of Warner Bros. while Netflix has bid $27.75 a share for the company’s studios and HBO business. Paramount Chief Executive Officer David Ellison has been pursuing Warner Bros. for months, efforts that prompted the parent of HBO and CNN to put itself up for sale in October. After Warner Bros. signed a deal in early December with Netflix, Paramount kept up the fight. Bloomberg News Senior Editor and Entertainment Team Leader Chris Palmeri joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)

Feb 26, 2026 &02082626202628; 23:08 UTC feeds.bloomberg.com Trending 5/5

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Positive for markets

Sentiment score: +75/100

High impact Immediate effect (hours)

WHAT THIS MEANS

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AI CONFIDENCE

0% Low

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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Warner Bros Discovery

WBDStock

Expected to rise

Higher acquisition offer boosts shareholder value.

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Paramount

PARAStock

High volatility expected

Large bid risk and potential counterbids create uncertainty.

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Netflix

NFLXStock

Expected to decline

Risk of overpaying or losing deal could pressure stock.

PRICE HISTORY

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⚡ SUGGESTED ACTION

Buy WBD for short-term gains from bid premiums; hedge with puts on NFLX if deal fails.

KEY SIGNALS

Bidding war escalationIncreased M&A activity in mediaShare price volatility

SECTORS INVOLVED

Media & Entertainment

Analysis generated on Feb 26, 2026 at 23:24 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by Bloomberg Markets. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Warner Bros. Says Paramount’s $111 Billion Deal Tops Netflix

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