Paramount Skydance Launches $30/Share All-Cash Tender Offer to Acquire Warner Bros. Discovery
February 27, 2026
Paramount Skydance has commenced an unsolicited all-cash tender offer to acquire all outstanding shares of Warner Bros. Discovery for $30.00 per share. WBD’s board later determined that Paramount Skydance’s revised $31.00-per-share proposal is a “Company Superior Proposal” under its merger agreement with Netflix, triggering a four-business-day match period for Netflix’s deal terms.
- Buyers
- Paramount Skydance Corporation
- Targets
- Warner Bros. Discovery, Inc.
- Industry
- Media & Entertainment
- Location
- New York, United States
- Transaction Type
- Buyout
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