Paramount appears to have defeated Netflix in the bidding war for Warner Bros. On February 26, Netflix declined to raise its bid for the legendary entertainment studio, leaving Paramount as the frontrunner to purchase WB.
Netflix issued an official statement, citing Warner Bros.’s belief that Paramount Skydance’s latest proposal was “superior.” Per The Hollywood Reporter, Paramount’s revised offer includes a cash purchase price of $31.00 per WBD share, a daily ticking fee of $0.25 per quarter starting after September 30, 2026, and a $7 billion regulatory termination fee if the deal doesn’t close due to regulatory issues.
“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid,” read Netflix’s statement.
Netflix Seemed Like a Lock to Purchase Warner Bros.
On December 5, Netflix and Warner Bros. Discovery reached an agreement valued at $82.7 billion under which Netflix would acquire Warner Bros.’ streaming and studio assets, including Warner Bros. Games. Meanwhile, Paramount made at least eight unsuccessful offers to buy Warner Bros., and even sued Warner in January, but persistence ultimately paid off.
Warner has numerous immensely popular properties, including the DC Comics universe, the Harry Potter franchise, and Game of Thrones. Now, that’s all seemingly heading to Paramount. Insider Gaming will report any further updates to this story.
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Good. No surprise. Netflix can pursue Sony Pictures.
People forget Skydance has a gaming division with Amy Hennig.