Ankler Agenda Paramount vs. Netflix: Your Big Questions Answered
Feb 25, 2026
A lively breakdown of the Netflix vs. Paramount battle for Warner Bros. Discovery. They cover the $31-per-share bid, negotiation timing and whether the fight is dragging on. Expect talk of Sarandos’ press tour, theatrical window promises, DOJ and monopsony scrutiny, union appeals, shareholder timelines, and who might be funding each bid.
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Hosts Re-Recorded Intro After Breaking Filing
- Elaine jokingly changed clothes and did laundry between recording sessions after breaking news forced a quick re-intro.
- The hosts re-recorded a short intro to incorporate WBD's new filing and Paramount's $31 offer.
WBD Keeps Door Open For Higher Bids
- Warner Bros. Discovery's statement lets Paramount continue talks by saying the $31 offer "could reasonably be expected to lead to a company superior proposal."
- The wording effectively keeps the door open for higher bids after Netflix's seven-day window expired, creating regulatory and timing ambiguity.
Seven Day Window Created Leverage And Uncertainty
- Netflix allowed a seven-day period for WBD to talk to Paramount that ended at midnight Monday, but WBD's recent filing implies talks may continue.
- That extension creates leverage and uncertainty for Netflix about termination fees and matching rights.