{"id":504176,"date":"2026-02-28T00:53:09","date_gmt":"2026-02-28T00:53:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/504176\/"},"modified":"2026-02-28T00:53:09","modified_gmt":"2026-02-28T00:53:09","slug":"paramount-paid-netflix-2-8-billion-breakup-fee-for-warner-bros","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/504176\/","title":{"rendered":"Paramount Paid Netflix $2.8 Billion Breakup Fee for Warner Bros."},"content":{"rendered":"

\n\tNetflix<\/a> just got a little richer as a result of letting Warner Bros. Discovery<\/a> go.<\/p>\n

\n\tOn Friday, Netflix announced that Paramount Skydance<\/a> has now paid the streamer its promised $2.8 billion breakup fee following Paramount\u2019s victory \u2014 pending an official vote and subsequent regulatory approval \u2014 in their bidding war for WBD.<\/p>\n

\n\tPer an SEC filing, Netflix said Warner Bros. Discovery \u201cprovided notice to Netflix that it had terminated the Merger Agreement in accordance with its terms in order to enter into an Agreement and Plan of Merger with PSKY in respect of such Company Superior Proposal.\u201d <\/p>\n

\n\tUpon the termination, Netflix said Paramount Skydance paid the $2.8 billion fee Netflix was owed in accordance with the merger agreement it had signed with Warner Bros. Discovery.<\/p>\n

\n\tNetflix on Thursday afternoon formally declined to increase its $83 billion offer to buy Warner Bros. and HBO Max Discovery, after WBD\u2019s board declared Paramount Skydance\u2019s\u00a0latest bid ($111 billion for the entirety of WBD, including its linear channels) a \u201csuperior proposal<\/a>\u201d to the agreement it already had in hand with Netflix.<\/p>\n

\n\tThe now-dead Netflix deal, which included buying Warner Bros. and HBO Max, was valued at nearly $83 billion. Paramount\u2019s latest bid, submitted Feb. 24, was an approximately $111 billion bid for the entirety of WBD, including its linear cable channels.<\/p>\n

\n\tThe swift decision by Netflix shocked Hollywood, as the streamer had four business days, or until Wednesday, March 4 at 11:59 p.m. ET, to come up with a new proposal to salvage its WBD deal.<\/p>\n

\n\t\u201cThe transaction we negotiated would have created shareholder value with a clear path to regulatory approval,\u201d Netflix co-CEOs Ted Sarandos and Greg Peters said in a joint statement issued Thursday, less than two hours after Warner Bros. Discovery revealed its board\u2019s new decision. \u201cHowever, we\u2019ve always been disciplined, and at the price required to match Paramount Skydance\u2019s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.\u201d <\/p>\n

\n\tThe Netflix chiefs said \u201cthis transaction was always a \u2018nice to have\u2019 at the right price, not a \u2018must have\u2019 at any price.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Netflix just got a little richer as a result of letting Warner Bros. Discovery go. On Friday, Netflix…\n","protected":false},"author":2,"featured_media":504177,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,1316,27395,8093],"class_list":["post-504176","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-netflix","tag-paramount-skydance","tag-warner-bros-discovery"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/504176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=504176"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/504176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/504177"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=504176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=504176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=504176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}