Last Updated: Dec. 22, 2025 at 11:01 a.m. ET
First Published: Dec. 22, 2025 at 7:34 a.m. ET
If Netflix NFLX wants Warner Bros. Discovery WBD so badly, and if the Warner Bros. board prefers selling to the streaming-video pioneer, then Netflix will have to raise its bid to match Paramount Skydance’s PSKY bid of $30 a share. Even that may not be enough.
Yes, Paramount’s bidding group is shrinking, but that doesn’t put Netflix in the pole position. The Netflix bid will likely face higher regulatory hurdles and delays than Paramount’s. In a hostile takeover, shareholders want their money faster. They, not the board, determine the outcome, even if the board recommends a different course.
