Archive · 24 Jan 2026
Warner Merger Battle Heats Up
Netflix and Paramount are both trying to buy parts of Warner Bros Discovery.
Netflix's co-CEO, Greg Peters, thinks Paramount's plan has too much debt and won't work.
Paramount's backer, Gerry Cardinale, says Netflix's plan is tricky and not straightforward.
Paramount has only gotten 7% of shareholders to support their bid, and Netflix's stock has dropped a lot since they started this process.
Both companies are trying to convince shareholders to support their offer.
Netflix's $82.7 billion offer for Warner Bros Discovery's studios-and-streaming division faces competition from Paramount's hostile bid.
Netflix Co-CEO Greg Peters criticizes Paramount's bid, calling it 'crazy' due to the high debt involved.
Paramount's backer Gerry Cardinale dismisses Netflix's proposal as 'smoke and mirrors' and 'the Harry Houdini of deals'.
Paramount has secured support from only 7% of shareholders, and has extended its tender offer deadline to February 20.
Netflix shares have dropped nearly 30% since the company emerged as a suitor for Warner Bros Discovery.
- Who
- Netflix, Paramount, Warner Bros Discovery, Larry Ellison, David Ellison, Gerry Cardinale
- What
- Competing bids for Warner Bros Discovery's studios-and-streaming division
- When
- Ongoing, with a special shareholder meeting planned
- Where
- United States
- Why
- To acquire Warner Bros Discovery's studios-and-streaming division
- Netflix's Offer
- $82.7 billion
- Paramount's Offer
- $30 per share
- Paramount's Shareholder Support
- 7%
- Netflix Share Decline
- 30% since emerging as a suitor
- Tender Offer Deadline
- February 20