Paramount Skydance Submits Higher Offer for Warner Bros Discovery Ahead of Shareholder Vote

Overview

• Warner Bros Discovery confirmed it received a new, higher bid from Paramount Skydance at the close of a seven‑day window, without disclosing the price.
• The board continues to back Netflix’s $27.75‑per‑share proposal, valued at about $82.7 billion, and has called an extraordinary meeting for March 20.
• Under the terms in place, Netflix retains the right to match any improved offer from Paramount Skydance.
• The proposals diverge in structure: Netflix targets the studios and streaming assets with linear networks slated for a separate public company, while Paramount Skydance seeks to acquire the entire group, which reporting values at roughly $108 billion.
• Paramount Skydance’s bid is backed by Larry Ellison and follows a U.S. lawsuit seeking additional disclosures from WBD, as analysts have suggested an offer near $34 per share could end the contest.