Welcome to our dedicated page for WARNER BROS DISCOVERY news (Ticker: WBD), a resource for investors and traders seeking the latest updates and insights on WARNER BROS DISCOVERY stock.
Warner Bros. Discovery, Inc. (NASDAQ: WBD) generates frequent, high-impact news as a media and entertainment company active in cable and other subscription programming, streaming, studios and global networks. Its news flow reflects both its portfolio of brands—such as Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HGTV, Food Network, TLC, Cartoon Network, Adult Swim, Warner Bros. Motion Picture Group and Warner Bros. Television Group—and major corporate transactions and financing activities.
Recent disclosures and press releases highlight several key themes for WBD news. First, the company has announced plans to separate its Streaming & Studios business (“Warner Bros.”) from its Global Networks business (“Discovery Global”) in a tax-free transaction, potentially creating two publicly traded companies. This separation plan has driven updates on executive appointments, leadership structures and financing arrangements, including a leveraged bridge loan facility and amendments to revolving credit agreements.
Second, Warner Bros. Discovery has entered into an Agreement and Plan of Merger with Netflix, Inc. Under this Merger Agreement, and subject to conditions and approvals, WBD’s Streaming & Studios business is expected to become a wholly owned subsidiary of Netflix after an internal reorganization and the separation and distribution of its Global Linear Networks business into a new SpinCo. News items detail the proposed cash-and-stock consideration for WBD shareholders, the Net Debt Adjustment mechanism and the treatment of equity awards.
Third, Paramount Skydance Corporation has launched and amended an unsolicited all-cash tender offer to acquire all outstanding WBD shares. Paramount’s communications emphasize its $30 per share proposal, financing commitments and its view that its offer is superior to the Netflix transaction, while WBD’s Board has issued statements and letters recommending that shareholders reject the Paramount offer and support the Netflix combination.
On this WBD news page, readers can follow developments related to the Netflix Merger Agreement, the strategic review, the proposed separation of Warner Bros. and Discovery Global, Paramount’s tender offer, debt tender offers, bridge financing and executive leadership changes. Investors and observers can use this feed to track how these corporate actions may affect WBD’s capital structure, business configuration and role in the media and entertainment landscape.
Paramount (NASDAQ:PSKY) will acquire Warner Bros. Discovery (NASDAQ:WBD) for $31.00 per share in cash, valuing WBD at $81B equity and $110B enterprise value. The deal, backed by $47B equity and $54B debt commitments, targets close in Q3 2026 with expected >$6B synergies.
The combined company will operate major studios, a large streaming portfolio, sports rights, a 15,000+ title library, minimum 30 theatrical films annually, and a planned 45–90 day theatrical-to-VOD window.
Netflix (WBD) declined to raise its offer to match Paramount Skydance's bid for Warner Bros on Feb 26, 2026.
The WBD Board determined Paramount Skydance's proposal is a "Superior Proposal" under the merger agreement, and Netflix said matching that price was "no longer financially attractive." Netflix reiterated it will invest approximately $20 billion in films and series this year and will resume its share repurchase program.
Paramount (NASDAQ: PSKY) confirmed Warner Bros. Discovery (NASDAQ: WBD) Board found Paramount's $31.00 per share all-cash proposal a superior proposal. Key terms include a $0.25 per-quarter ticking fee after Sept 30, 2026, a $7 billion regulatory termination fee, Paramount paying WBD's $2.8 billion Netflix break fee, elimination of WBD's potential $1.5 billion financing cost, a $45.7 billion Ellison equity commitment and a $57.5 billion debt commitment from lead banks.
The HSR waiting period expired Feb 19, 2026; a definitive merger agreement and expiration of the four-business-day match period remain required to complete the transaction.
Warner Bros. Discovery (NASDAQ: WBD) said its Board determined a revised Paramount Skydance (PSKY) proposal constitutes a Company Superior Proposal under the Netflix merger agreement on Feb. 26, 2026.
PSKY values WBD at $31.00 per share cash, includes a $0.25 per share per quarter ticking fee starting after Sept. 30, 2026, a $7 billion regulatory termination fee, PSKY payment of WBD's $2.8 billion Netflix termination fee, an equity backstop from Larry J. Ellison and a MAE carve-out for Global Linear Networks. Netflix has a four business day match period; the Board continues to recommend the Netflix transaction.
Warner Bros. Discovery (Nasdaq: WBD) reported fourth quarter and full year results for the period ended December 31, 2025. The company will host a conference call and live webcast today at 8:00 a.m. ET to discuss results, with replay access through March 5, 2026.
Investor materials and the audio replay are available in the company's Investor Relations section at ir.wbd.com.
Paramount Skydance (NASDAQ: PSKY) revised its all-cash proposal to acquire Warner Bros. Discovery (NASDAQ: WBD) at $31.00 per share for 100% of WBD, with material deal protections and payments.
Key items: $31/sh cash offer; $7.0B regulatory termination fee; payment of $2.8B Netflix termination fee; $0.25 quarterly ticking fee commencing after Sept 30, 2026; HSR waiting period expired Feb 19, 2026; definitive agreement and WBD board determination still required.
Warner Bros. Discovery (NASDAQ: WBD) said on Feb 24, 2026 its Board determined a revised Paramount Skydance (NASDAQ: PSKY) proposal could reasonably be expected to lead to a "Company Superior Proposal" under WBD's Netflix merger agreement.
The revised PSKY proposal offers $31.00 per WBD share in cash, a daily ticking fee of $0.25 per quarter after Sept 30, 2026, a $7 billion regulatory termination fee, payment of WBD's $2.8 billion termination fee to Netflix, additional equity funding commitments for solvency, and a Company MAE definition excluding Global Linear Networks. The Board has not yet determined superiority and continues to recommend the Netflix transaction.
Paramount Skydance (NASDAQ: PSKY) confirmed on Feb 24, 2026 it submitted a revised proposal to acquire Warner Bros. Discovery (NASDAQ: WBD).
Paramount said the submission follows engagement after WBD received a seven-day waiver under its merger agreement with Netflix (NASDAQ: NFLX). Completion requires WBD Board to deem Paramount's offer a Company Superior Proposal, expiration of a four-business-day match period, termination of the Netflix merger agreement, and execution of a definitive merger agreement. Paramount will continue its previously announced tender offer and solicitation opposing the Netflix merger while WBD considers the revised proposal.
Warner Bros. Discovery (NASDAQ: WBD) confirmed receipt of a revised acquisition proposal from Paramount Skydance (NASDAQ: PSKY) on Feb. 24, 2026. The Board is reviewing the revised PSKY proposal with financial and legal advisors and will update shareholders after its review.
The Board reiterated that the Netflix merger agreement remains in effect and continues to recommend the Netflix transaction. Shareholders were advised not to take any action regarding the amended PSKY tender offer. Allen & Company, J.P. Morgan and Evercore serve as financial advisors; Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton serve as legal counsel.
Warner Bros. Discovery (Nasdaq: WBD) will report its fourth quarter and full year 2025 results on Thursday, February 26, 2026 before the market opens. A live webcast of the conference call and earnings materials will be available in the Investor Relations section starting at approximately 7:00 a.m. ET.
The company will host a conference call at 8:00 a.m. ET. Telephone replay is available until March 5, 2026 (+1 888-660-6264 or +1 646-517-3975; passcode 97030#). An audio webcast replay will be available on the Investor Relations site for twelve months.