According to multiple reports, Warner Bros Discovery is expected to convene a shareholder vote in March to approve the proposed $82.7 billion transaction transferring its streaming and studio divisions to Netflix. The deal, unveiled last quarter, would combine Netflix’s direct-to-consumer expertise with Warner Bros Discovery’s vast content library. Institutional investors representing over 60% of outstanding shares have already signaled support, and proxy materials filed with the SEC indicate that the companies are targeting a simple majority threshold. A successful vote would mark one of the largest media-sector consolidations in recent history.

Netflix reported quarterly revenue of $12.05 billion, up 17.6% year-over-year, and delivered earnings per share of $0.56, exceeding consensus estimates by $0.01. Return on equity reached 43.3% and net margin stood at 24.3%. Despite these results, the stock has fallen more than 50% from its one-year high, driven by investor concerns over integration risks and elevated content spending. Management set guidance for the upcoming quarter at $0.76 EPS, roughly flat sequentially, while forecasting subscriber additions in line with historical growth rates. Analysts have trimmed consensus price targets by an average of 6% following the earnings release.

In late January, Chief Executive Officer Gregory Peters reduced his stake by selling 105,781 shares, representing a 46% cut in his position; he retains 122,140 shares. The transaction was disclosed in an SEC filing and totaled approximately $8.8 million. Following the sale, research houses adjusted their recommendations: two firms upgraded to outperform based on long-term streaming market leadership, while four brokerages moved to hold, citing uncertainty around the Warner deal and competitive pressures. The consensus rating remains Moderate Buy, with a mid-year analyst target implying roughly 30% upside from current levels.