Big Warner Bros. shareholders are losing patience with the Paramount-Netflix bidding war

MarketWatch

by Kenneth Rapoza

February 13, 2026

AI-Generated Deep Dive Summary

Big Warner Bros. shareholders are growing increasingly impatient as the Paramount-Netflix bidding war intensifies, potentially leading them to reconsider their investments in Warner Bros. Discovery (WBD). This shift comes after Paramount Skydance (PSKY) raised its hostile tender offer, offering a higher price per share than Netflix’s bid, which could entice WBD investors to defect. The situation is driven by Paramount’s aggressive strategy to acquire Warner Bros., with its latest offer directly competing with Netflix. This has created significant pressure on Warner Bros.’s board, as institutional shareholders may feel tempted to accept Paramount’s terms, especially if they believe the deal will deliver greater value than remaining with Netflix. This dynamic highlights the broader implications of media mergers and the role of shareholder sentiment in shaping corporate outcomes. As the bidding war continues, the potential for a major shift in ownership could reshape the entertainment industry landscape, impacting not only WBD’s stock price but also investor confidence in similar high-stakes transactions. The outcome of this scenario will be closely watched by finance professionals and market analysts, as it underscores the importance of strategic decision-making in competitive M&A processes. The patience of large institutional investors is being tested, and their ultimate choice could set a precedent for future mergers and acquisitions in the sector.

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Originally published on MarketWatch on 2/13/2026