Warner Bros Shareholders to Vote on Netflix Deal in March

Warner Bros Discovery is gearing up for an important event in March: a shareholder vote on the $82.7 billion deal to sell its streaming and studio assets to Netflix. While no date has been finalized yet, it’s expected to happen once the preliminary proxy filing is complete.

If investors give the green light, the deal will move forward, but it’s likely to face close inspection from U.S. and European competition regulators. They’ll be looking into whether the merger would harm competition or restrict options for consumers.

In the event that shareholders reject the Netflix deal, Paramount Skydance may step up their efforts. They could try to replace Warner Bros board members with directors more inclined to consider their own $108.4 billion bid. However, Warner Bros’ board has already unanimously turned down Paramount’s offer, deeming it “inadequate” and not beneficial for shareholders.

Paramount Skydance extended the deadline for its tender offer to February 20, giving them more time to persuade investors that their proposal is better than Netflix’s rival bid. For Netflix, acquiring Warner Bros Discovery’s valuable assets—from beloved shows like “Friends” to iconic characters like “Batman”—would give them the cultural firepower to create a fresh wave of spinoffs, prequels, and sequels tailored for streaming.

If the deal goes through, Netflix would become the largest global streaming service with approximately half a billion subscribers. It’s a high-stakes moment for both companies, with a lot riding on the outcome.