Paramount Raises Its Bid for Warner Bros. Discovery

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by Lauren Hirsch

February 25, 2026

AI-Generated Deep Dive Summary

Paramount has increased its bid for Warner Bros. Discovery to $31 per share, potentially offering a more attractive deal than the $83 billion agreement Warner Bros. had reached with Netflix. This move comes after months of competition between the two media giants over the acquisition of Warner Bros. Discovery. Initially, Warner Bros. signed a deal with Netflix in December 2026 to sell a significant portion of its business for $83 billion, rejecting Paramount's earlier offer of $108 billion for the entire company. However, Paramount persisted by targeting shareholders and refining its proposal. In response to shareholder pressure, Warner Bros. Discovery reopened negotiations with Paramount last week, giving them until Monday to submit their final offer. Now, the company has decided to continue discussions with Paramount, contingent on determining whether its bid surpasses the Netflix deal. If deemed superior, Warner Bros. would allow Netflix four days to counteroffer, as per their agreement. This development highlights the dynamic and competitive landscape of media mergers, where companies are vying for control of key assets like Warner Bros. Discovery. The situation underscores the influence of shareholder interests and the strategic maneuvers companies employ to secure favorable deals. For readers following business and media news, this story illustrates the high stakes involved in major acquisitions and the potential reshaping of the entertainment industry.

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Originally published on NYT Homepage on 2/25/2026