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Paramount Enhances Bid to Block Netflix's Acquisition of Warner Bros.

KVIA•Tuesday, February 10, 2026 at 5:03 PM•CNN Newsource

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Paramount Pictures has ramped up its efforts to disrupt Netflix's pending $83 billion acquisition of Warner Bros. Discovery (WBD) by offering shareholders $650 million for each quarter the deal remains unclosed, starting in 2027. Additionally, Paramount pledged to cover the $2.8 billion termination fee WBD would owe Netflix if the deal falls through. Despite these enhancements, Paramount has not increased its cash offer of $30 per share for WBD, which includes CNN. A special shareholder meeting is anticipated for late March or early April, but over 93% of WBD's shareholders have reportedly rejected Paramount's proposal. Meanwhile, Netflix is countering with public relations efforts to defend its acquisition plans.

Key Details: • Paramount offers $650 million per quarter if the Netflix deal remains unclosed, starting 2027. • Paramount will cover WBD's $2.8 billion fee to Netflix if the acquisition fails. • WBD shareholders meeting expected late March or early April. • Over 93% of WBD shareholders currently oppose Paramount's offer.

business entertainment mergers warner-bros netflix

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David EllisonWarner Bros. DiscoveryNetflixCNNParamount PicturesClete Willems

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