In a stunning twist, #Netflix is declining to raise its bid for #WarnerBros positioning David Ellison’s #Paramount as the winner in the battle for the fabled studio.
Read the full report: https://t.co/t7MdKjLNDz pic.twitter.com/EwwDsFGrrx
— The Hollywood Reporter (@THR) February 26, 2026
-Paramount recently raised their bid for WB to $31/share and gave Netflix 4 days to respond
-Netflix has declined to play ball stating:
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.
