Paramount Skydance (PSKY) confirmed a revised proposal to acquire Warner Bros. Discovery (WBD) on February 24, 2026. The submission was made during a seven-day limited waiver period.
The upgraded bid is expected to exceed $31 per share, an increase from the previous $30-per-share proposal. WBD’s board continues to recommend a Netflix merger at $27.75 per share for select assets.
PSKY shares rose 0.5% in pre-market trading following the announcement. The revised offer includes modifications to Paramount Skydance’s bridge financing package to address specific WBD board concerns.
If the WBD board rejects the Paramount Skydance offer, Netflix has four days to issue a competing bid.