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Bond Market News
Paramount Extends Deadline of Hostile WBD Bid by a Month
January 23, 2026
Paramount Skydance has extended the deadline for its hostile bid for Warner Bros Discovery (WBD) by about a month to February 20. The company is seeking more time to convince shareholders about its bid being superior to Netflix’s deal. Paramount did not raise its offer, and only 6.8% of WBD shares were tendered by the original January 21 deadline. Netflix, meanwhile, revised its bid to an all-cash $82.7bn offer, translating to $27.75/share for Warner Bros’ streaming and studio assets, which has been unanimously approved by the WBD board. Paramount’s offer values the whole company at $108.4bn ($30/share), but WBD and analysts say that Paramount would likely need to raise its bid to restart talks. The contest is expected to culminate in a shareholder vote by April.
Paramount’s bonds traded stable with its 5.9% 2040s at 85.4, yielding 7.6%. WBD’s 4.279% 2032s traded slightly higher at 89.8, yielding 6.3%.
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