Last mentioned: Feb 26, 2026
WBD Board Response
WBD declares Paramount's offer meets the threshold for further talks, triggering Netflix's 4-day matching window.
Paramount Counter-Offer
Paramount Skydance submits a $111 billion full-company buyout offer at $31 per share.
Netflix Agreement
WBD signs a deal with Netflix for its studio and HBO operations at $27.75 per share.
WBD Sale Announced
Warner Bros. Discovery officially puts itself up for sale after months of interest from David Ellison.
Warner Bros. Discovery has signaled that a $111 billion buyout offer from Paramount Skydance may be superior to its existing agreement with Netflix. The move triggers a critical four-day window for Netflix to counter-bid or risk losing the historic media conglomerate.