On January 12, 2026, Paramount Skydance Corporation informed Warner Bros. Discovery (WBD) shareholders of its plan to deliver a fully financed, all-cash offer of $30 per share. Paramount Skydance began this process four months ago with a private offer at a significant premium to WBD?s $12.54 share price, culminating in the current proposal made before WBD entered into its agreement with Netflix.
Paramount Skydance stated that unless WBD?s board exercises its right to engage under the Netflix merger agreement, the decision will likely go to a shareholder vote. To facilitate this, Paramount Skydance will nominate directors committed to exercising WBD?s rights under the agreement and propose a bylaw amendment requiring shareholder approval for any separation of Global Networks. If WBD calls a special meeting to vote on the Netflix deal, Paramount Skydance will solicit proxies against it.
These actions, along with its tender offer, aim to ensure shareholders have the final say on which offer is better.
