Warner Bros. Discovery (WBD) Stock After Hours Dec. 17, 2025: Board Rejects Paramount’s $30 Bid, Reaffirms Netflix Deal—What to Know Before Thursday’s Open
Warner Bros. Discovery, Inc. Series A common stock (NASDAQ: WBD) is ending Wednesday’s session in the middle of a fast-moving takeover battle that is now driving day-to-day trading more than traditional fundamentals. After the closing bell on Dec. 17, 2025, WBD was trading around $28.21 in late trading (as of 22:09 UTC / 5:09 p.m. ET), down about 2.3% versus the prior close. That price matters because it sits below Paramount Skydance’s $30.00 all-cash tender offer—but above Netflix’s stated $27.75 per-share cash-and-stock deal value—leaving investors to weigh which path is more likely, how long approvals could take, and what each