Warner Bros. Discovery (WBD) has scheduled a special shareholder meeting for March 20, 2026, as it enters a critical negotiation window. Netflix granted WBD a seven-day waiver, expiring February 23, 2026, to discuss a best-and-final offer with Paramount Skydance (PSKY).
WBD is currently seeking confirmation of a $31 per share verbal commitment from PSKY. This follows PSKY’s February 10, 2026, enhancement of its $30 per share all-cash tender offer, which added a ticking fee and regulatory progress updates.
While WBD continues to negotiate with PSKY, its board currently maintains a unanimous recommendation for the Netflix merger. PSKY plans to launch a proxy solicitation to oppose the Netflix transaction.
PSKY shares rose 1.74% to $10.50 in pre-market trading. The stock is outperforming declining major indices amid the heightened M&A momentum.