Archive · 22 Jan 2026
Paramount Extends Warner Bros. Takeover Offer Deadline
Paramount, which is owned by Skydance, is trying to buy Warner Bros.
Discovery for $77.9 billion.
They have extended the deadline for Warner's shareholders to accept their offer until February 20, 2024.
So far, only 168.5 million shares have been accepted, which is far less than the 50% needed to take control.
Warner's board has rejected Paramount's offer, saying it's worse than a deal they have with Netflix.
Netflix is offering to buy Warner's studio and streaming business for $72 billion.
Paramount thinks their offer is better and has started a fight to get their own people on Warner's board.
Both companies' shares fell slightly, while Paramount's shares rose by nearly 3%.
Paramount extends its tender offer for Warner Bros. Discovery to February 20, 2024, with an unchanged offer price of $30 per share.
Over 168.5 million Warner shares have been tendered, far below the 50% needed for control.
Warner's board rejects Paramount's offer, favoring a merger agreement with Netflix.
Netflix's all-cash offer for Warner's studio and streaming business is valued at $72 billion, with an enterprise value of $83 billion including debt.
Paramount is pursuing a proxy fight, nominating its own slate of directors for Warner's board and filing materials to oppose the Netflix merger.
- Who
- Paramount (Skydance-owned) and Warner Bros. Discovery
- What
- Paramount extends its tender offer for Warner Bros. Discovery
- When
- Deadline extended to February 20, 2024
- Where
- United States
- Why
- Paramount believes its offer is better than Netflix's and is pursuing a proxy fight
- Offer Value
- $77.9 billion
- Total Enterprise Value
- Over $108 billion (including debt)
- Offer Price per Share
- $30 in cash
- Shares Tendered
- 168.5 million
- Total Warner Shares Outstanding
- 2.48 billion
- Netflix Offer Value
- $72 billion (all-cash)
- Netflix Enterprise Value
- $83 billion (including debt)
- Netflix Offer Price per Share
- $27.75