---
title: "Netflix walks away from Warner Bros. Discovery, Paramount wins"
description: "Netflix declined to match Paramount Skydance's offer, which values Warner Bros. Discovery at about $111 billion."
url: https://kurddevelopers.com/en/news/netflix-drops-warner-bros-bid-paramount
language: en # English
type: news
published: 2026-02-26T20:30:00.000Z
updated: 2026-11-01T23:28:02.000Z
author: "Osamah Ismail"
author_url: https://kurddevelopers.com/en/author/1
section: "Startups"
tags: ["Netflix","Warner Bros. Discovery","Paramount","HBO","CNN"]
sources: ["Netflix Investor Relations","TechCrunch"]
image: https://kurddevelopers.com/uploads/2026/11/netflix-inc-logo-8a1682c0.jpg
translations:
  ku: https://kurddevelopers.com/news/netflix-drops-warner-bros-bid-paramount
  ar: https://kurddevelopers.com/ar/news/netflix-drops-warner-bros-bid-paramount
publisher: Kurd Developers
publisher_url: https://kurddevelopers.com/
---

# Netflix walks away from Warner Bros. Discovery, Paramount wins

> Netflix declined to match Paramount Skydance's offer, which values Warner Bros. Discovery at about $111 billion.

![Image: Netflix](https://kurddevelopers.com/uploads/2026/11/netflix-inc-logo-8a1682c0.jpg)

## What happened?

Paramount Skydance made a new offer of $31 per share, and the Warner Bros. Discovery (WBD) board called it a "superior proposal."

Netflix said it would not raise its bid. Co-CEOs Ted Sarandos and Greg Peters said: "we are declining to match the Paramount Skydance bid."

## By the numbers

- Netflix's offer: $82.7 billion in cash.
- Paramount's offer: values WBD at about $111 billion, including about $33 billion of WBD debt.
- WBD owes Netflix a $2.8 billion termination fee, which Paramount's offer covers.

## Who gets what?

With this deal, Warner Bros. studios, HBO and CNN go to Paramount, with Larry Ellison supplying the extra equity.

After the news, Netflix shares rose as much as 10% and Paramount shares rose 4.5%.

**Sources:** Netflix Investor Relations, TechCrunch

---

Published by [Kurd Developers](https://kurddevelopers.com/) on 2026-02-26. Cite as: “Netflix walks away from Warner Bros. Discovery, Paramount wins”, Kurd Developers, https://kurddevelopers.com/en/news/netflix-drops-warner-bros-bid-paramount