Banks Get Bids on $49 Billion Paramount Debt Well Before Sale

Paramount Skydance and Netflix are locked in a bidding war for Warner Bros. Discovery, and both expect the contest to extend well into 2026. The prolonged process increases deal/timing uncertainty for WBD and the broader media M&A complex, but no final price or binding offer is reported in the excerpt.

Analysis

Paramount Skydance and Netflix are locked in a bidding war for Warner Bros. Discovery, and both expect the contest to extend well into 2026. The prolonged process increases deal/timing uncertainty for WBD and the broader media M&A complex, but no final price or binding offer is reported in the excerpt.