Paramount Skydance extends Warner Bros takeover bid offer

Al JazeeraCenterEN 2 min read 100% complete by By AP and ReutersJanuary 22, 2026 at 09:18 PM

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Paramount Skydance has extended its $77.9 billion hostile tender offer for Warner Bros Discovery until February 20, aiming to convince investors its bid is better than Netflix's. This is the second extension since Paramount challenged Warner's merger agreement with Netflix last month. Warner Bros. has repeatedly rejected Paramount's offer, even one including a $40 billion equity guarantee from Larry Ellison, and maintains its agreement with Netflix is superior. As of Wednesday, Paramount had secured tenders for over 168.5 million Warner shares, significantly less than the required 50% for control. Netflix agreed in December to acquire Warner's studio and streaming business and recently switched to an all-cash offer valued at $83 billion, including debt, to expedite shareholder approval.

Key Entities & Roles

Key Player Opposition Context

Donald Trump 30% United States 30% Oracle 40% David Ellison 40% Larry Ellison ×260% Netflix ×470% Warner Bros Discovery ×380% Paramount Skydance ×690%

Keywords

takeover bid 90% paramount skydance 80% warner bros discovery 80% merger agreement 70% netflix 70% tender offer 60% shareholders 60% enterprise value 50% larry ellison 40%