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. reports developments across its global media and entertainment business, including television, film, streaming and gaming. Recurring updates include quarterly earnings, conference-call materials, shareholder letters and corporate announcements tied to its branded content portfolio, including HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, Warner Bros. Motion Picture Group, Warner Bros. Television Group and Warner Bros. Games.
Company news also covers governance matters, shareholder voting items, material agreements and capital-structure disclosures related to WBD's public securities and corporate actions.
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.
Paramount Skydance (NASDAQ: PSKY) says it has made a $30 per-share all-cash offer for Warner Bros. Discovery (NASDAQ: WBD) and criticizes WBD's board for granting a 7-day waiver with Netflix and proceeding with a March 20, 2026 shareholder meeting. Paramount highlights WBD proxy materials stating merger consideration ranging $21.23–$27.75 and points to a previously disclosed $0.25 per-share per-quarter ticking fee as added value in Paramount's proposal. Paramount will continue its tender offer, solicit shareholder opposition to the Netflix merger, and intends to nominate directors while offering voting and contact information for its solicitation.
Ancora Holdings (investor with ~$200M economic interest in Warner Bros. Discovery, NASDAQ: WBD) released a presentation on Feb 11, 2026 opposing the proposed WBD-Netflix merger and urging the WBD board to re-engage with Paramount. Ancora argues Paramount offers $30 cash and credible Ellison Trust backing, while the Netflix deal has uncertain cash (maximum $27.75; could be as low as $21.23) and regulatory risk.
Ancora highlights DOJ antitrust scrutiny, concerns about a Discovery Global spinoff debt allocation, and urges shareholders to seek a higher-value outcome.