A drone view shows the Netflix logo on one of the company's buildings in the Hollywood neighborhood in Los Angeles, California, U.S., January 20, 2026. (Reuters/Daniel Cole)
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Netflix has ample cash and could increase its offer for HBO Max owner Warner Bros Discovery if rival bidder Paramount Skydance ups its own offer, two people with knowledge of the matter said.
The two media giants have been locked in a heated rivalry over Warner Bros and its storied catalogue, which includes iconic franchises like “Harry Potter”, “Game of Thrones”, DC Comics and Superman.
Though Warner Bros is moving forward with a March 20 shareholder vote on Netflix’s offer, it has given Paramount a week to come up with a more compelling bid.
Netflix has bid $27.75 a share, or $82.7 billion, for Warner Bros’ studio and streaming businesses while Paramount has offered $108.4 billion for the whole company, which includes Discovery Global that houses CNN, HGTV and other TV assets.
Netflix and Warner Bros declined to comment.
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(Reporting by Amy-Jo Crowley in London and Milana Vinn in New York. Additional reporting by Deborah Sophia and Harshita Mary Varghese. Editing by Anousha Sakoui and Dawn Kopecki, Kirsten Donovan)
