Netflix set to bolster its Warner Bros. bid
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As you know, at the end of last year, your Board of Directors concluded its process to maximize shareholder value by entering into our merger agreement with Netflix. Since then, Paramount Skydance (“PSKY”), a bidder in that process, has commenced a hostile tender offer to acquire WBD, which it recently amended on December 22, 2025.
Paramount Skydance made three separate attempts to scoop up WBD before the company even opened the process up to other bidders. The third of those early offers was reportedly in the neighborhood of $24 per share, while this most recent hostile takeover stands at $30 per share.