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“Netflix Gains Slight Edge Over Warner Bros Discovery as Bidding War Intensifies” 🚨🚨🚨

Prediction markets are tilting slightly in Netflix’s favor following a dramatic week in the battle with Paramount Global for control of Warner Bros. Discovery (WBD).

The week began with WBD announcing it would resume talks with Paramount Skydance to evaluate what’s being called a “best and final offer,” after Netflix granted a seven-day waiver. Despite reopening negotiations, WBD’s board continues to unanimously recommend the Netflix merger. Importantly, Netflix retains the right to match or exceed any new bid from Paramount before the negotiation window closes on February 23.

Analysts suggest the pressure is mounting on Paramount. Lightshed Partners’ Richard Greenfield indicated the company may need to raise its offer to $36–$37 per share to stay competitive, well above its current $30 bid. Netflix’s standing offer sits at $27.75 per share for the studio and streaming assets, while Paramount is pursuing the entire company.

Political dynamics are also entering the picture. According to reports, some Democratic senators are frustrated that Skydance CEO David Ellison declined to attend a recent hearing, raising the possibility of further scrutiny if control of the Senate shifts.

Meanwhile, Reuters reports Netflix has ample cash reserves and flexibility to sweeten its offer if necessary. Co-CEO Ted Sarandos has also sought to calm concerns, pledging to preserve WBD’s 45-day theatrical window — a key issue for theater operators.

Inside WBD, employee sentiment appears to be shifting in Netflix’s favor, though skepticism remains among some factions. Shareholders are scheduled to vote on the proposed Netflix merger March 20.

As of Friday afternoon, prediction markets show Netflix with a narrow 46% probability of winning the deal, compared to Paramount’s 44%, reflecting just how tight — and fluid — this high-stakes media showdown has become.