• Warner Bros. Discovery rejects Paramount's $30-a-share takeover bid.
• Paramount has until February 23 to present a revised offer, suggested to be $31 per share.
• Warner Bros. remains committed to its merger agreement with Netflix, prioritizing it over Paramount's offers.
• Shareholder vote on Netflix deal is scheduled for March 20, 2026.
• Warner Bros faces pressure from activist investors regarding deal negotiations.

Warner Bros. Discovery has officially rejected Paramount Skydance's latest $30-a-share takeover bid but is allowing the Hollywood studio a seven-day window to propose a more attractive deal. Paramount indicated it may increase its offer to $31 per share, potentially enticing Warner Bros. to reconsider, yet Warner Bros. remains committed to its ongoing negotiations with Netflix, which offers $27.75 per share, according to Reuters and India Times.

Warner Bros. Discovery stated that Paramount has until February 23 to present its best and final offer. Despite the potential for an increased bid, Warner Bros.' leadership, including Chairman Samuel DiPiazza Jr. and CEO David Zaslav, have conveyed that they see a low likelihood of any proposal from Paramount being more favorable than their current agreement with Netflix. Their standpoint suggests a deep commitment to securing the Netflix deal, which is expected to be voted on by shareholders on March 20, according to Channel News Asia and CBS News.

In a statement, Warner Bros. underscored that it expects Paramount to increase its bid above $31 per share if they wish to proceed with negotiations. Paramount's current proposal for the whole company is valued at nearly $108.4 billion, while Netflix's offer stands at approximately $82.7 billion, inclusive only of its studio and streaming assets. The ongoing developments pertain closely to the fast-evolving entertainment landscape, as indicated by Reuters, CBS News, and India Times.

Additionally, Warner Bros. Discovery is feeling the heat from activist investors like Ancora Holdings, which has built a significant stake in the company and is lobbying against the Netflix arrangement. The financial advisor from Paramount highlighted that their latest offer has addressed concerns previously raised by Warner Bros., reflecting an ongoing rivalry between these industry giants, according to India Times and Channel News Asia.