Latest Entertainment News
Netflix Withdraws from Warner Bros. Discovery Acquisition Bid
Netflix announced on February 26, 2026, it will not match Paramount Skydance's $31 per share bid for Warner Bros. Discovery, ending a bidding war. Co-CEOs Ted Sarandos and Greg Peters stated the deal was no longer financially attractive, securing a $2.8 billion breakup fee.
This paves the way for a potential $108-111 billion merger reshaping Hollywood.
Warner Bros. Discovery Board Deems Paramount Skydance Proposal Superior
WBD's board declared Paramount Skydance's revised $31 per share all-cash offer superior to Netflix's, notifying Netflix on February 26, 2026. The bid values WBD at around $108-111 billion with a $7 billion regulatory termination fee.
CEO David Zaslav expressed excitement for the merger's value to shareholders.
Paramount Skydance Confirms Superior Proposal for WBD Acquisition
Paramount Skydance stated WBD's board affirmed their $31 per share cash proposal as superior under Netflix merger terms. Chairman David Ellison highlighted superior value, certainty, and speed to closing with $57.5 billion debt commitment.
The deal awaits match period expiration and definitive agreement.
Celebrity Birthdays: Joanne Woodward Turns 96 Today
Legendary actress Joanne Woodward celebrates her 96th birthday on February 27, 2026, known for her Academy Award-winning role in The Three Faces of Eve. She collaborated often with Paul Newman and made her own gown for the 1958 Oscars.
Woodward is also noted for philanthropy via Newman's Own.
Kate Mara Marks 43rd Birthday with Stellar Career Highlights
Actress Kate Mara turns 43 today, acclaimed for roles in House of Cards and The Martian. She blends strength and vulnerability in performances across film and TV.
Mara is a long-time vegan and animal rights advocate.
Rozonda Thomas of TLC Celebrates 55th Birthday
TLC's Rozonda Thomas turns 55 on February 27, 2026, with the group selling over 65 million records and winning four Grammys. She has acted in films and TV, becoming a grandmother in 2024.
Thomas met her father for the first time at age 25 on a talk show.
WBD CEO Zaslav Hails Potential Paramount Merger Value
Warner Bros. Discovery CEO David Zaslav praised the Paramount merger for creating tremendous shareholder value post-Netflix withdrawal. He looks forward to combining stories that move the world.
The deal requires shareholder vote and regulatory approval.
Paramount Skydance Bid Includes Ticking Fee and Debt Financing
The $31 per share offer features a $0.25 per quarter ticking fee after September 30 and $57.5 billion debt from Bank of America Merrill Lynch, Citi, and Apollo. HSR antitrust waiting period expired February 19, 2026.
Integration risks noted in disclosures.
Netflix Cites Discipline in Declining to Match Higher Bid
Netflix co-CEOs emphasized disciplined strategy, calling the original $82.7 billion deal a 'nice to have' at the right price. They negotiated for studios, DC, and Max with regulatory path.
Withdrawal avoids overpaying amid bidding war.
Path Forward: WBD Eyes Q3 2026 Network Spin-Off for Merger
Post-Netflix exit, WBD can terminate that agreement and pursue Paramount deal, targeting closure in 12-18 months pending approvals. Plans include spinning off Global Networks in Q3 2026.
EU and US regulatory scrutiny ahead.
Hollywood Braces for Paramount-WBD Merger Impact
The merger could control WBD film studios, streaming like Max, and networks, led by David Ellison with backing from Larry Ellison. Promises new era for entertainment amid ongoing consolidation.
Shareholder proxy statements already mailed for votes.