Netflix Shares Jump 1.23% After Paramount’s $31 Warner Bros Bid
Netflix shares rose 1.23% in after-hours trading after Warner Bros. Discovery received a competing $31-per-share bid from Paramount Skydance, topping Netflix’s $27.75-per-share merger offer. Warner Bros.’ board triggered a four-business-day matching period, keeping Netflix’s original merger agreement on track for Q3 2026 closing.
1. After-Hours Stock Reaction
Netflix shares jumped 1.23% in after-hours trading following news that Warner Bros. Discovery received a competing $31-per-share bid from Paramount Skydance.
2. Comparison of Bids
Paramount’s $31-per-share proposal exceeds Netflix’s agreed $27.75-per-share offer from December, prompting Warner Bros.’ board to activate a four-business-day matching period under the existing merger terms.
3. Merger Timeline and Outlook
Netflix’s original merger agreement remains intact and is expected to close in Q3 2026, with the matching period outcome dictating whether Netflix must increase its bid or can proceed as planned.