Netflix co-CEO Ted Sarandos says the fight to take over Warner Bros. Discovery has turned ugly, accusing Paramount Skydance of spreading “misinformation” in a last-ditch attempt to derail the deal. The claim came Tuesday as Netflix granted Warner Bros. Discovery a seven-day waiver to consider new and amended offers from Paramount Skydance.
“Warner Bros. said in a regulatory filing Tuesday that the waiver will allow it to discuss unresolved ‘deficiencies’ in Paramount’s previous offers,” reported the AP. The studio now has until February 23 to negotiate any possible transaction. That gives just one week to decide if it will stay with Netflix or switch sides to Paramount.
Paramount’s latest offer wasn’t just about promises. The company dangled a 25-cent per share ticking fee worth about $650 million every quarter, along with a pledge to pay the $2.8 billion termination fee if Warner Bros. walked away from Netflix. Paramount CEO David Ellison said his team was putting real money on the table. “The additional benefits of our superior $30 per share, all-cash offer clearly underscore our strong and unwavering commitment,” Ellison said, touting a “clear regulatory path” and “protection against market volatility.”
Sarandos wasn’t convinced. Speaking to CNBC, he pushed back hard. “Paramount has been flooding the zone with misinformation, creating a bunch of what-ifs and scenarios that are very wild,” he said. He added that Warner Bros. had been “very clear” about maximizing cash for shareholders and predicted that nothing in the deal would need adjusting once the dust settles.
Sarandos then fired back at Ellison’s claim that Paramount would have a “faster regulatory path.” “I don’t know why the Ellisons would insinuate they have some inside track in the Department of Justice, but I can assure you they don’t,” he said. The Netflix chief added that Netflix is a “trusted entity” in global markets and that unlike Paramount’s offer, their own deal “does not disrupt the European broadcast system at all.”
So why the seven-day waiver? Sarandos said it was a move of confidence. “We have given the opportunity to get those shareholders exactly what they deserve — complete clarity and certainty about what the value of these deals are,” he said. “And what we’re certain is that the Netflix deal to acquire these assets is the best deal.” He suggested that Warner’s endorsement of Netflix’s approach speaks louder than any competing bid. “Give them seven days to put their money where their mouth is,” he said.
The final decision now rests with Warner Bros. Discovery shareholders. They’re set to vote on March 20, and Sarandos says he’s “confident” they’ll side with Netflix. “Our goal is to make sure folks take the seven days to figure out exactly where they stand,” he said.
Even President Trump weighed in, recently telling reporters he would let the deal proceed through the legal process and take no side. In a Hollywood power game this fierce, that neutrality from Trump might be the only calm voice in the room. The question now is simple: will Warner Bros. Discovery believe Netflix’s promise of stability, or will Paramount’s cash-heavy offer turn their heads?
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