Welcome to our dedicated page for Warner Bros. Discovery news (Ticker: WBD), a resource for investors and traders seeking the latest updates and insights on Warner Bros. Discovery stock.
Warner Bros. Discovery, Inc. reports developments across its global media and entertainment business, including television, film, streaming and gaming. Recurring updates include quarterly earnings, conference-call materials, shareholder letters and corporate announcements tied to its branded content portfolio, including HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, Warner Bros. Motion Picture Group, Warner Bros. Television Group and Warner Bros. Games.
Company news also covers governance matters, shareholder voting items, material agreements and capital-structure disclosures related to WBD's public securities and corporate actions.
Paramount Skydance (NASDAQ: PSKY) confirmed on Feb 24, 2026 it submitted a revised proposal to acquire Warner Bros. Discovery (NASDAQ: WBD).
Paramount said the submission follows engagement after WBD received a seven-day waiver under its merger agreement with Netflix (NASDAQ: NFLX). Completion requires WBD Board to deem Paramount's offer a Company Superior Proposal, expiration of a four-business-day match period, termination of the Netflix merger agreement, and execution of a definitive merger agreement. Paramount will continue its previously announced tender offer and solicitation opposing the Netflix merger while WBD considers the revised proposal.
Warner Bros. Discovery (NASDAQ: WBD) confirmed receipt of a revised acquisition proposal from Paramount Skydance (NASDAQ: PSKY) on Feb. 24, 2026. The Board is reviewing the revised PSKY proposal with financial and legal advisors and will update shareholders after its review.
The Board reiterated that the Netflix merger agreement remains in effect and continues to recommend the Netflix transaction. Shareholders were advised not to take any action regarding the amended PSKY tender offer. Allen & Company, J.P. Morgan and Evercore serve as financial advisors; Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton serve as legal counsel.
Warner Bros. Discovery (Nasdaq: WBD) will report its fourth quarter and full year 2025 results on Thursday, February 26, 2026 before the market opens. A live webcast of the conference call and earnings materials will be available in the Investor Relations section starting at approximately 7:00 a.m. ET.
The company will host a conference call at 8:00 a.m. ET. Telephone replay is available until March 5, 2026 (+1 888-660-6264 or +1 646-517-3975; passcode 97030#). An audio webcast replay will be available on the Investor Relations site for twelve months.
Paramount Skydance (NASDAQ: PSKY) says it has made a $30 per-share all-cash offer for Warner Bros. Discovery (NASDAQ: WBD) and criticizes WBD's board for granting a 7-day waiver with Netflix and proceeding with a March 20, 2026 shareholder meeting. Paramount highlights WBD proxy materials stating merger consideration ranging $21.23–$27.75 and points to a previously disclosed $0.25 per-share per-quarter ticking fee as added value in Paramount's proposal. Paramount will continue its tender offer, solicit shareholder opposition to the Netflix merger, and intends to nominate directors while offering voting and contact information for its solicitation.
Ancora Holdings (investor with ~$200M economic interest in Warner Bros. Discovery, NASDAQ: WBD) released a presentation on Feb 11, 2026 opposing the proposed WBD-Netflix merger and urging the WBD board to re-engage with Paramount. Ancora argues Paramount offers $30 cash and credible Ellison Trust backing, while the Netflix deal has uncertain cash (maximum $27.75; could be as low as $21.23) and regulatory risk.
Ancora highlights DOJ antitrust scrutiny, concerns about a Discovery Global spinoff debt allocation, and urges shareholders to seek a higher-value outcome.
Warner Bros. Discovery (NASDAQ: WBD) confirmed receipt of an amended unsolicited tender offer from Paramount Skydance (NASDAQ: PSKY) to acquire all outstanding WBD common shares on Feb 10, 2026. The WBD Board will review the offer in consultation with independent financial and legal advisors and is not modifying its recommendation in favor of the Netflix merger agreement at this time. WBD filed a Schedule 14D-9 solicitation/recommendation statement with the SEC and directed shareholders to review SEC filings. WBD named Allen & Company, J.P. Morgan and Evercore as financial advisors and Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton as legal counsel.
Paramount (NASDAQ: PSKY) amended its all-cash offer to acquire Warner Bros. Discovery (NASDAQ: WBD) at $30.00 per share, valuing equity at $78 billion and enterprise value at $108 billion. Key enhancements include a $0.25/ share ticking fee beginning Jan 1, 2027 (~$650M/quarter), funding of a $2.8B Netflix termination fee, reimbursement of up to $1.5B debt financing costs, $43.6B equity and $54.0B debt commitments, and a $43.3B personal guarantee from Larry Ellison. Paramount certified compliance with the DOJ second request on Feb 9, 2026 (triggering a 10-day waiting period) and secured German foreign investment clearance on Jan 27, 2026.
Paramount (NASDAQ:PSKY) filed preliminary proxy materials and extended its $30 per share all-cash tender offer for Warner Bros. Discovery (NASDAQ:WBD) to February 20, 2026, stressing a $108.4 billion enterprise value vs. Netflix's purported $82.7 billion.
Paramount urges WBD shareholders to reject the amended Netflix deal, citing lower per-share cash consideration, undisclosed Discovery Global details and significant regulatory risk for the Netflix transaction.
Netflix (NASDAQ: NFLX) reported Q4 2025 results with revenue of $12.05 billion, up 18% year‑over‑year, and net income of $2.42 billion (diluted EPS $0.56, +31% YoY). Operating income rose to $2.96 billion and operating margin expanded to 24.5%. Free cash flow for Q4 was $1.87 billion, while full‑year 2025 revenue reached $45.2 billion (+16% YoY) with $9.5 billion in free cash flow and a 29.5% operating margin. Memberships surpassed 325 million paid members. Advertising revenue exceeded $1.5 billion in 2025 with management expecting ~$3 billion in ad revenue for 2026. Netflix amended its merger agreement with Warner Bros. Discovery to an all‑cash deal at $27.75 per WBD share and has $42.2 billion in bridge facility commitments to support the acquisition. The company paused share buybacks and ended Q4 with $9.0 billion in cash.
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