Warner Bros Shareholders May Vote on Netflix Deal in March, CNBC Reports

• Warner Bros board unanimously rejected Paramount's $108.4 billion hostile offer, with Paramount extending its tender offer deadline to February 20 to convince investors
• A Netflix-Warner Bros deal would create the world's biggest streaming player with roughly half a billion subscribers and give Netflix access to major franchises like 'Friends' and 'Batman'
• The deal requires shareholder approval and faces potential regulatory scrutiny from U.S. and European competition authorities over concerns about reduced competition and consumer choice

Warner Bros-Netflix Deal Shareholder Vote Expected in March

Warner Bros Discovery (WBD) is likely to hold a shareholder vote in March on its proposed merger with Netflix (NFLX), according to CNBC reports. Neither company has provided immediate comment on the timeline.

Key Players and Competing Bids:

The deal faces competition from Paramount, which has made a hostile $108.4 billion offer for Warner Bros. Paramount extended its tender offer deadline to February 20 and is expected to escalate pressure by attempting to replace WBD board members with directors more receptive to its bid. Warner Bros' board has unanimously rejected Paramount's offer, calling it "inadequate" and not in shareholders' best interests.

Strategic Implications:

For Netflix, acquiring Warner Bros would provide access to premium intellectual property including "Friends" and "Batman," enabling development of streaming-first spinoffs, prequels, and sequels. The combination would create the world's largest streaming platform with approximately 500 million subscribers globally.

Regulatory Hurdles:

Should shareholders approve the Netflix deal, it faces significant scrutiny from U.S. and European competition authorities. Regulators will assess whether the merger reduces market competition or limits consumer choice in the streaming and entertainment sectors.

Market Context:

The proposed consolidation reflects ongoing pressure in the streaming industry as major players seek scale and premium content libraries to compete effectively. The outcome will likely reshape the competitive landscape of global streaming services and Hollywood studio operations.

The March shareholder vote will be a critical milestone, though regulatory approval could extend the timeline significantly if the deal receives investor backing.