Paramount escalates Warner Bros. Discovery fight with new $31-per-share bid
Source: CNN Business
PUBLISHED Feb 24, 2026, 4:56 PM ET
New York - Paramount has officially raised its offer for Warner Bros. Discovery, CNN’s parent company, to $31 per share, and now the WBD board says it is extending the window for talks with Paramount about a possible deal.
In addition to the higher price per share, Paramount has also sweetened its proposal in several other ways, including by promising “a $7 billion regulatory termination fee” to WBD “in the event the transaction does not close due to regulatory matters.”
So the talks with Paramount will continue, as WBD strives to land the best deal possible. But the WBD merger agreement with Netflix “remains in place,” the company emphasized, and analysts say Netflix is likely to match the competing bid.
Until now, Paramount has been offering $30 per share, which WBD rejected as “inferior” to the company’s deal to sell its studio and streaming assets to Netflix. Paramount has been appealing directly to WBD shareholders in what is commonly known as a hostile takeover bid.
Read more: https://www.cnn.com/2026/02/24/media/paramount-new-offer-warner-brothers-discovery-netflix
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