Judge Denies Paramount’s Fast-Track Bid as Netflix Seals Global Sony Pay‑1 Pact in Warner Contest

Overview

• Delaware Vice Chancellor Morgan Zurn refused to expedite Paramount Skydance’s lawsuit seeking more Warner Bros. Discovery disclosures, finding no recognizable irreparable harm tied to alleged gaps around the cable business.
• Paramount said it will keep pressing WBD, including plans to nominate directors and propose bylaw changes, while pursuing a $30‑per‑share all‑cash tender offer that Warner’s board has rebuffed in favor of Netflix’s $27.75‑per‑share cash‑and‑stock proposal.
• Netflix and Sony announced a multi‑year global agreement granting Netflix Pay‑1 rights to Sony films after theatrical and home‑entertainment windows, with rollout beginning this year in some territories and full global implementation targeted by early 2029.
• The expanded Sony pact includes options to license select Sony film and TV library titles, reinforcing Netflix’s post‑theatrical slate as it seeks to acquire WBD’s studio and streaming assets.
• EU officials held informational meetings with Paramount and Netflix as cinema chains and the UNIC trade group warned that a WBD sale could erode theatrical exclusivity, while Netflix co‑CEO Ted Sarandos pledged at least a 45‑day theatrical window for Warner films if its deal proceeds.