In the ongoing contest over Warner Bros Discovery’s future, Paramount Skydance has extended its tender offer deadline for shareholders amid an intense proxy battle. The company’s pursuit of a full acquisition—valued at nearly $78 billion—attempts to compete with Netflix’s rival bid and persuade investors that its all-cash offer delivers stronger immediate value.
Paramount’s strategy now includes legal filings and proposals to nominate directors at Warner’s upcoming shareholder meeting, aiming to disrupt Netflix’s favored path and potentially redirect the outcome of the takeover. However, Warner’s board has repeatedly expressed confidence in Netflix’s amended offer, and Paramount’s extended campaign highlights the complexity and high stakes at play in one of the largest media deals of 2026.
