Netflix Stock News

The Netflix-Warner Bros. tie-up is moving forward, despite a hostile bid from Paramount Skydance.

Warner Bros. Discovery's board unanimously urged shareholders to reject a tender offer from Paramount Skydance, calling it inadequate and risky while throwing full support behind its proposed merger with Netflix.

WBD had agreed to sell to Netflix but Paramount swiftly countered with an all-cash offer, which WBD's board is calling ‘inadequate'

Warner Bros Discovery's board rejected Paramount Skydance's $108.4 billion hostile bid, saying it failed to provide adequate financing assurances, in a blow to the David Ellison-run company's ambitions to grow its media empire.

The odds of a Netflix-Warner combination surged to 74% from 29%, according to Polymarket.

After Careful Review, Warner Bros. Discovery Board Urges Stockholders to Approve Netflix Agreement, Calling it the Best Option for Long-Term Value Ted Sarandos and Greg Peters Send Letter to Warner Bros.

Warner raised concerns about the credibility of Paramount's “illusory” offer and its backing from the Ellison family.

Warner Bros. Discovery's board says shareholders should reject Paramount Skydance's bid.