warner discovery paramount skyndance netflix.

Skydance-owned Paramount is again extending the tender offer window in its $77.9 billion hostile takeover bid for Warner Bros. Discovery, while doubling down on a coming proxy fight. Warner stockholders now have until February 20 to sell shares for $30 each. This marks the second extension since Paramount challenged Warner’s merger with Netflix and went hostile last month. As of late Wednesday, over 168.5 million Warner shares were tendered, still far below the 50% needed for control. Paramount has also promised a proxy fight — and filed preliminary materials to solicit proxies in opposition to the Netflix merger on Thursday.