Paramount and Netflix respond to the latest development in the Warner Bros. Discovery takeover saga, as negotiations take a new turn and tensions rise over competing merger plans.
Paramount Calls Board Move “Unusual” but Signals Willingness to Talk
Paramount has raised concerns about the latest decision by the Warner Bros. Discovery (WBD) board, describing the move as out of the ordinary. The board recently granted a one-week waiver to allow discussions with Paramount, while simultaneously scheduling a March 20 shareholder meeting to vote on its previously agreed merger with Netflix.
Despite its reservations, Paramount said it remains open to productive dialogue.
The company emphasized that it is ready to engage in constructive negotiations while continuing to move forward with its tender offer. Paramount also confirmed it will maintain its campaign opposing what it calls the less favorable Netflix transaction and plans to put forward its own slate of director nominees at WBD’s upcoming annual meeting.
Netflix Stresses Certainty of Its Existing Deal
Netflix responded by underscoring that the temporary waiver does not alter the fundamentals of the situation. According to the streaming giant, it remains the only party with a signed agreement that has already received formal approval from the WBD board.
The company said its proposal represents the most reliable and clearly defined route to delivering value for WBD shareholders.
Netflix also pointed to its conduct during the strategic review process, describing its approach as cooperative and responsive. In contrast, it criticized Paramount Skydance (PSKY), arguing that its actions have created unnecessary disruption for investors and the broader entertainment sector.
Regulatory Race Becomes a Key Battleground
Another major point of contention is the regulatory path ahead. Netflix said it and WBD have already begun advancing the approval process with regulators.
The company pushed back against claims from Paramount Skydance that its own proposal would face fewer obstacles, arguing that such statements misrepresent the complexity of global regulatory reviews. Netflix warned shareholders not to assume that the competing bid would receive faster or easier clearance.
High Stakes for Shareholders and the Industry
With a shareholder vote approaching and competing offers still in play, the battle for Warner Bros. Discovery is entering a critical phase. Investors now face a choice between a signed, board-backed agreement and a rival bid that is still seeking to gain traction.
As negotiations continue, the outcome could reshape the competitive landscape of the global media and streaming industry.
