Netflix supports Warner Bros. Discovery board’s commitment to merger pact

Netflix (NFLX) welcomed the Warner Bros. Discovery (WBD) Board of Directors’ continued commitment to the merger agreement between Netflix and WBD, and its unanimous recommendation that stockholders reject the revised offer from Paramount Skydance (PSKY), announced December 22, 2025. After a comprehensive and rigorous review process with its independent financial and legal advisors, the WBD Board reaffirmed its conclusion that the transaction with Netflix is in the best interests of WBD stockholders. “The WBD Board remains fully supportive of and continues to recommend Netflix’s merger agreement, recognizing it as the superior proposal that will deliver the greatest value to its stockholders, as well as consumers, creators and the broader entertainment industry,” said Ted Sarandos and Greg Peters, co-CEOs of Netflix. “Netflix and Warner Bros. will bring together highly complementary strengths and a shared passion for storytelling. By joining forces, we will offer audiences even more of the series and films they love-at home and in theaters-expand opportunities for creators, and help foster a dynamic, competitive, and thriving entertainment industry.”