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Netflix cedes bid to Paramount over Warner Brothers

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Saxsoon
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5:08p, 2/26/26
AG
https://deadline.com/2026/02/netflix-declines-to-raise-offer-for-warner-bros-1236738005/

Quote:
The giant streamer said: Netflix, Inc. today announced that it has declined to raise its offer for Warner Bros. Netflix had earlier received notice from Warner Bros. Discovery (WBD) that its Board of Directors has determined Paramount Skydance's (PSKY) latest proposal constitutes a "Superior Proposal" under the terms of WBD's existing merger agreement with Netflix. Netflix issued the following statement in response from co-CEOs Ted Sarandos and Greg Peters:
The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.

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cajunaggie08
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5:32p, 2/26/26
AG
Not to bring on the F16ers, but Trump announcing this week that he would make sure the Netflix deal is blocked unless they remove Susan Rice from the board probably didn't help things. It was clear what the white house wanted the regulatory authorities to do and which bid they wanted to win.

[Don't complain if you call people out without provocation and they show up on a thread after you do it. -Staff]
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Quad Dog
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6:05p, 2/26/26
AG
Netflix makes a free $3 billion.

Quote:
Paramount agreed to pay the $2.8 billion breakup fee that WBD would owe Netflix if that deal didn't go through.


https://www.cnbc.com/2026/02/26/warner-bros-discovery-paramount-skydance-deal-superior-netflix.html
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Quad Dog
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6:10p, 2/26/26
AG
WB lost $252 million last quarter
https://www.hollywoodreporter.com/business/business-news/wbd-q4-2025-earnings-big-net-loss-paramount-vs-netflix-1236514816/

Paramount lost $573 million last quarter
https://variety.com/2026/tv/news/paramount-skydance-q4-loss-new-bid-warner-1236672924/

All Netflix has to do is wait a year or two and perhaps buy both WB and Paramount for the same price it just offered for WB.
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Aggie_Journalist
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In reply to Quad Dog • 6:14p, 2/26/26
AG
Quad Dog said:
WB lost $252 million last quarter
https://www.hollywoodreporter.com/business/business-news/wbd-q4-2025-earnings-big-net-loss-paramount-vs-netflix-1236514816/

Paramount lost $573 million last quarter
https://variety.com/2026/tv/news/paramount-skydance-q4-loss-new-bid-warner-1236672924/

All Netflix has to do is wait a year or two and perhaps buy both WB and Paramount for the same price it just offered for WB.

Oracle's net profit was $12 billion. The Ellison's wealth is reportedly in the $200-$300 billion range.

This isn't about making money for the Ellison's. It's about controlling the media and political power.
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TCTTS
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6:16p, 2/26/26
AG
One family now controls...

- CBS
- CBS News
- CBS Sports
- CNN
- Comedy Central
- DC Studios
- Discovery
- HBO
- HBO Max
- MTV
- Nickelodeon
- Paramount Pictures
- Paramount+
- Pluto TV
- TBS
- TCM
- TikTok
- TNT
- Turner Sports
- UFC
- Warner Bros Pictures

... with $24 billion from the Saudis, Qatar, and Abu Dhabi, a fierce loyalty to Donald Trump, and thousands of jobs about to be lost in the process.

I don't care how you slice it, or which way you lean politically, this can't be good for the industry or the country.
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TCTTS
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6:23p, 2/26/26
AG
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TCTTS
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6:28p, 2/26/26
AG
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Teslag
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In reply to TCTTS • 6:41p, 2/26/26
AG
TCTTS said:
One family now controls...

- CBS
- CBS News
- CBS Sports
- CNN
- Comedy Central
- DC Studios
- Discovery
- HBO
- HBO Max
- MTV
- Nickelodeon
- Paramount Pictures
- Paramount+
- Pluto TV
- TBS
- TCM
- TikTok
- TNT
- Turner Sports
- UFC
- Warner Bros Pictures

... with $24 billion from the Saudis, Qatar, and Abu Dhabi, a fierce loyalty to Donald Trump, and thousands of jobs about to be lost in the process.

I don't care how you slice it, or which way you lean politically, this can't be good for the industry or the country.


What networks and entertainment outlets does leftist Disney own? Have you considered this may just balance things out?
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TCTTS
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In reply to Teslag • 7:00p, 2/26/26
AG
Disney owns…

- A+E Networks
- ABC
- ABC News
- Disney+
- Disney Kids Networks
- ESPN
- FX
- FXX
- Hulu
- Lucasfilm
- Marvel Studios
- National Geographic
- Pixar
- Walt Disney Pictures
- 20th Century Studios

I'm sorry, but that's not even remotely close to the Ellisons now. Especially with no major cable news outlet and no TikTok.
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Quad Dog
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7:15p, 2/26/26
AG
We are all screwed when our entertainment options are carved up into left vs. right.
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FL_Ag1998
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7:19p, 2/26/26
AG
Trump will be out of office in 2 years with no ability to run again. I'm sorry, but fear of some loyalty that Ellison has to Trump is just silly, and a fear of what that may do to this country is just plain overly dramatic.

I was vocally anti-Netflix/WBD merger when it was announced and I still am. And I seem to remember the majority of the Hollywood talking voices on social media were against it, too. But now they're all up in arms about this news. What exactly do they want? The clock ain't rolling back, we're not unwinding this new world of media and going back to pre-2000 modus operandi.

And I do agree that a media monopoly by any company is bad for our media overall, be it Paramount-Skydance or Disney or Netflix. But its been trending that way for a while and Paramount didn't start that trend. Finally, let's not pretend that CNN and CBS have been non-partisan and will NOW suddenly skew to one "side".
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Quad Dog
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In reply to FL_Ag1998 • 7:24p, 2/26/26
AG
Maybe with Trump out anti-trust candidates will be on the ballot in 2028. Dare to dream
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FL_Ag1998
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In reply to TCTTS • 7:30p, 2/26/26
AG
TCTTS said:


When It looked like Netflix was going to take over WBD everyone in the Hollywood media was posting almost this exact same concern...."Netflix puts out trash movies and now they're going to be in charge of WBD! We're doomed!"

Now it's, "Paramount's upcoming slate of movies is trash and now they're taking over WBD! We're doomed!"

Just my opinion of course, but nobody knows exactly how this is going to pan out in the long run for the movie biz, so the chicken littles on Hollywood social media just need to chill.
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Kaiser von Wilhelm
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In reply to FL_Ag1998 • 7:31p, 2/26/26
FL_Ag1998 said:
What exactly do they want?


AI written and produced movies cutting out Hollywood altogether to eliminate the smarmy preachy self-righteous and proven to be ignorant ********s in Hollywood.

Can't happen soon enough, and to a more deserving group.
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FL_Ag1998
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7:38p, 2/26/26
AG
Now THAT, AI taking over Hollywood, really would be its death knell and not good.
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Kaiser von Wilhelm
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In reply to FL_Ag1998 • 7:51p, 2/26/26
FL_Ag1998 said:
Now THAT, AI taking over Hollywood, really would be its death knell and not good.


The those ass hats better start to realize they aren't as important as they think they are.
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Teslag
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In reply to TCTTS • 7:52p, 2/26/26
AG
TCTTS said:
Disney owns…

- A+E Networks
- ABC
- ABC News
- Disney+
- Disney Kids Networks
- ESPN
- FX
- FXX
- Hulu
- Lucasfilm
- Marvel Studios
- National Geographic
- Pixar
- Walt Disney Pictures
- 20th Century Studios

I'm sorry, but that's not even remotely close to the Ellisons now. Especially with no major cable news outlet and no TikTok.


Which is offset by Disney's major stake in college and and pro sports broadcasting that the Ellisons lack. AND when you combine with all other outlets other than Fox News being left aligned it's even more offset. You're right, it's not close to being balanced. It's still heavily skewed overall in one direction.
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TCTTS
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In reply to FL_Ag1998 • 8:03p, 2/26/26
AG
You're not wrong.


However, the industry's tune changed when it became obvious (via interviews/reporting) that Ellison was...

A) going to merge all Paramount/Warner Bros theatrical divisions (potentially even abandoning the WB studio lot)...

B) going to merge Paramount+ with HBO Max...

B) thus firing thousands of Warner Bros/HBO Max employees.

D) make down-the-middle slop in terms of movies.


Netflix, on the other hand, vowed multiple times to...

A) keep Warner Bros theatrical divisions/distribution basically as-is...

B) not merge Netflix+ with HBO Max (and leave HBO untouched in the process)...

B) thus retaining thousands of Warner Bros/HBO Max employees.

D) allow Warner Bros to continue to make big, original movies.


Yes, Ellison has vowed to make 15 theatrical Paramount movies + 15 theatrical Warner Bros movies per year. Likely more than Netflix would have released theatrically per year. However, multiple experts claim that he simply doesn't have the cash to do so, even if it's technically across two studios/distributors. That, and Disney made roughly the same promise when they bought 20th Century Fox and they released just FOUR 20th Century Studios movies last year.

Could Ellison somehow keep his promise? Sure.

Is it likely? No.

Consolidation on this level just sucks all around. No one - not the industry, not the workers, not the consumers - win when **** like this happens. Only the billionaires benefit.
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Teslag
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In reply to TCTTS • 8:04p, 2/26/26
AG
What if thousands of people need to be fired?
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TCTTS
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In reply to Teslag • 8:13p, 2/26/26
AG
Really? That's where you're taking this now? Good Lord.
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javajaws
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8:18p, 2/26/26
AG
Hollywood isn't some special or magical business. They still have to make a profit and if any company is so badly run as to need to be sold then most likely layoffs will be coming regardless of what any buyer says. Promises to the contrary are just fantasy.
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Teslag
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In reply to TCTTS • 8:19p, 2/26/26
AG
TCTTS said:
Really? That's where you're taking this now? Good Lord.


Why wouldn't I? When companies merge there are attempts at restructuring and increased efficiency which often results layoffs. Happens in oil and gas. Happens in tech. Happens in manufacturing.

Why should entertainment be exempt?
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schmendeler
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8:20p, 2/26/26
AG
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Teslag
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In reply to schmendeler • 8:32p, 2/26/26
AG
Ah yes, The Washington Post, a bastion of pro-Trump news.
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TCTTS
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In reply to javajaws • 8:56p, 2/26/26
AG
javajaws said:
Hollywood isn't some special or magical business. They still have to make a profit and if any company is so badly run as to need to be sold then most likely layoffs will be coming regardless of what any buyer says. Promises to the contrary are just fantasy.


Warner Bros was the first studio in history last year to release seven number one movies in a row at the box office.

Warner Bros came in second place, among all studios last year, in total global box office.

Warner Bros Discovery doesn't own a broadcast network (ABC, CBS, NBC, FOX), which makes them way less of a headache to acquire due to otherwise strict FCC laws that ban mergers among broadcast networks.

Warner Bros isn't "badly" run.

Warner Bros doesn't "need" to be sold.

Warner Bros could easily remain as-is.

Rather, Paramount is a fledgling studio that desperately needs more/better franchise IP, while Netflix wanted to get into the theatrical game and needs franchise IP as well. Both placed bids on Warner Bros Discovery, whom the board of directors of has a fiduciary duty to act in the best interests of its shareholders, which requires them to evaluate/entertain any credible acquisition offers, which is exactly what happened in this case.
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Fenrir
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In reply to TCTTS • 9:06p, 2/26/26
TCTTS said:

Warner Bros isn't "badly" run.

Warner Bros doesn't "need" to be sold.

Warner Bros could easily remain as-is.

Rather, Paramount is a fledgling studio that desperately needs more/better franchise IP, while Netflix wanted to get into the theatrical game and needs franchise IP as well. Both placed bids on Warner Bros Discovery, whom the board of directors of has a fiduciary duty to act in the best interests of its shareholders, which requires them to evaluate/entertain any credible acquisition offers, which is exactly what happened in this case.


Pretty sure the rumors when the split was announced was that it was to make a purchase of a portion of the company more enticing. It seems weird in light of that to act like paramount and netflix are doing some kind of hostile takeover.
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schmendeler
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In reply to Teslag • 9:06p, 2/26/26
AG
Teslag said:
Ah yes, The Washington Post, a bastion of pro-Trump news.


Currently being gutted by bezos. Also, only one of the subjects of the tweet.
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Teslag
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In reply to schmendeler • 9:13p, 2/26/26
AG
schmendeler said:
Teslag said:
Ah yes, The Washington Post, a bastion of pro-Trump news.


Currently being gutted by bezos. Also, only one of the subjects of the tweet.


Bezos has owned the Washington Post for almost 13 years. When does this gutting finally turn it into a hot bed of MAGA journalism?
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schmendeler
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In reply to Teslag • 9:15p, 2/26/26
AG
Teslag said:
schmendeler said:
Teslag said:
Ah yes, The Washington Post, a bastion of pro-Trump news.


Currently being gutted by bezos. Also, only one of the subjects of the tweet.


Bezos has owned the Washington Post for almost 13 years. When does this gutting finally turn it into a hot bed of MAGA journalism?


A couple weeks ago.

They fired a third of their staff.

https://apnews.com/article/washington-post-staff-reduction-layoffs-cuts-923f87d4bd319c8a64b278165d0a6e27
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Fenrir
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In reply to schmendeler • 9:23p, 2/26/26
That's totally because of a political agenda and not losing hundreds of millions over the last 3 years.
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Teslag
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In reply to schmendeler • 9:24p, 2/26/26
AG
Quote:
The Washington Post laid off one-third of its staff Wednesday, eliminating its sports section, several foreign bureaus and its books coverage


Man, that WaPo sports section was just absolutely brutal to Trump. Definitely a turn to maga.
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TCTTS
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In reply to Fenrir • 9:33p, 2/26/26
AG
Fenrir said:
TCTTS said:

Warner Bros isn't "badly" run.

Warner Bros doesn't "need" to be sold.

Warner Bros could easily remain as-is.

Rather, Paramount is a fledgling studio that desperately needs more/better franchise IP, while Netflix wanted to get into the theatrical game and needs franchise IP as well. Both placed bids on Warner Bros Discovery, whom the board of directors of has a fiduciary duty to act in the best interests of its shareholders, which requires them to evaluate/entertain any credible acquisition offers, which is exactly what happened in this case.


Pretty sure the rumors when the split was announced was that it was to make a purchase of a portion of the company more enticing. It seems weird in light of that to act like paramount and netflix are doing some kind of hostile takeover.


And?

Just because a company tests the waters/says they're entertaining offers doesn't mean they're badly run, struggling financially, or that thousands of people "need" to be fired.

That was the only point I was making.

Still, for the record, in response to the Netflix bid, Paramount did indeed launch a hostile takeover bid of Warner Bros. That's exactly what happened, and how they won. Damn near every story covering the news is literally using the words "hostile takeover bid."
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jokershady
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In reply to Quad Dog • 9:35p, 2/26/26
AG
Quad Dog said:
We are all screwed when our entertainment options are carved up into left vs. right.
read a book?
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Fenrir
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In reply to TCTTS • 9:37p, 2/26/26
You're right. It could have. The head of the entire company made it pretty clear what his end game was. Watching someone essentially put something outside with a for sale sign on it, seeing two interested parties give ever higher bids for it and coming to the conclusion that this isn't exactly what Zaslav wanted is a choice I guess.
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