The final decision is now in the hands of the shareholders
The board of directors and Netflix now seem to be working hand in hand to ensure that this takeover is completed, even if many pitfalls are still expected along the way. Paramount/Skydance is the biggest thorn in the duo’s side today, given the hostile takeover bid that was launched. The offer was, however, initially refused by the big bosses of Warner Bros, and very recently, an amendment concerning this decision was also swept aside. In other words, Paramount’s offer is definitively refused by the boardas the president of the latter, Samuel A. Di Piazza Jr., indicates:
“ The Board of Directors unanimously decided that Paramount’s latest offer remains inferior to our merger agreement with Netflix on several key points. Paramount’s offer continues to be insufficient, in particular due to conditions such as an exorbitant level of debt financing which creates risks for the completion of the transaction and the lack of protection for our shareholders in the event of failure. Our agreement with Netflix will provide greater value, greater certainty and will be free of the significant risks and costs that Paramount’s offer would impose on our shareholders. »
But that doesn’t mean Netflix has the last laugh here. If the board of Warner Bros. Discovery can completely reject this offer, it is now the turn of its shareholders to make a decisionand a turnaround can never be ruled out in such transactions. Meanwhile, uncertainty around Warner Bros. Games persists, and 2026 is likely to be a particularly difficult year for the publisher.