Netflix, Inc.

Money Moves

Withdrew from WBD bidding February 2026; collected $2.8B breakup fee; stock rose about 10% on news of withdrawal

Paramount Skydance won the five-month bidding war for Warner Bros. Discovery. WBD shareholders voted in April 2026 to accept Paramount's $31-per-share all-cash offer—valued at roughly $111 billion including debt. Netflix declined to match the price in February and walked away with a $2.8 billion breakup fee.

Updated Jun 13

New Capabilities

Successfully broadcast Skyscraper Live despite streaming issues and widespread commentary criticism; viewership figures pending

Alex Honnold summited Taipei 101 without a rope on January 25, 2026 — 1,667 feet of glass, steel, and concrete in 1 hour, 31 minutes, and 40 seconds, the highest urban free solo in history. He said: "Sick."

Updated May 23

Money Moves

Acquirer; dominant global subscription streaming platform

On December 5, 2025, Netflix announced a definitive deal to acquire Warner Bros.' film and television studios and streaming businesses, including HBO and HBO Max, valued at $72 billion in equity and $82.7 billion including debt. On January 20, 2026, the parties amended to an all-cash structure at $27.75 per share, with a shareholder vote expected by April 2026.

Updated May 10

Money Moves

Acquirer; largest global subscription streaming platform

After Netflix and Warner Bros. Discovery announced their $72 billion equity-value agreement on December 5, the transaction quickly became a live bidding contest and a regulatory test case. On December 8, Paramount Skydance launched an unsolicited all-cash tender offer at $30 per share to derail the Netflix deal and keep WBD intact, including networks slated for its Discovery Global spin-off. Within days, Netflix began a coordinated shareholder push backing its signed merger agreement and emphasizing regulatory execution, while WBD prepared formal filings to respond to the tender offer.

Updated May 9