Paramount Extends WBD Acquisition Offer Period to February 20, 2026

Photo: Paramount. (Wikipedia)

JAKARTA - Paramount Skydance Corporation has extended the offer to purchase Warner Bros. Discovery (WBD) shares worth 30 US dollars (Rp504 thousand) per share in cash until February 20, 2026.

This move confirms Paramount's bid by providing a company valuation of US$108.4 billion (Rp1,824 trillion) far above the value of the Netflix transaction which is claimed to have reached US$82.7 billion (Rp1,392 trillion).

Concurrently with the extension of the offer, Paramount also announced that it had filed documents with the US Securities and Exchange Commission (SEC) to invite WBD shareholders to reject the revised merger transaction with Netflix.

In the document, Paramount said that WBD's shareholders in the deal with Netflix would only receive $27.75 per share, or even lower depending on the division of debt of up to $17 billion to the new Discovery Global entity.

According to them, if most of the debt is transferred back to the studio business and WBD streaming, the value received by shareholders is expected to fall to around $23.20 (Rp390 thousand) per share.

In addition, the company assesses that the Netflix transaction faces high regulatory risks, as it has the potential to strengthen Netflix's market dominance to around 43 percent of global subscribers of subscription video services.

"Rather, the combination of Paramount and WBD is pro-competitive, with moviegoers, studio workers, and creative talent all thriving thanks to the combined company's expanded production and theatrical content," Paramount wrote.

Paramount also again urged WBD shareholders to reject the Netflix transaction and support Paramount's offer, which is considered superior in terms of value and certainty.