Greg Peters

Money Moves

Netflix withdrew from WBD bidding in February 2026, collecting a $2.8B breakup fee; Netflix stock rose about 10% on the news

Paramount Skydance won the WBD bidding war in February 2026 and cleared the DOJ and European Commission by July. The deal is now paused: a federal judge in Oakland issued a temporary restraining order on July 20 after a 12-state coalition led by California sued to block it.

Updated Jul 25

Money Moves

Co-leading the company through its ad push

Netflix reported second-quarter results on July 16, 2026, and pointed investors at one number: advertising. The company said its ad business should nearly double this year, approaching a $3 billion annual run-rate.

Updated Jul 16

Money Moves

Leads integration and financial execution of the transaction

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

Now publicly leading deal-certainty messaging against Paramount’s tender offer; Netflix says HSR materials have been submitted.

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