Warner Bros. Discovery (WBD) Stock Jumps Toward $30 on Netflix Deal and Paramount Counterbid — Outlook for Next Week (Updated Dec. 12, 2025)
Warner Bros. Discovery closed Friday at $29.98, just below Paramount Skydance’s $30.00-per-share all-cash tender offer. The stock moved higher after Paramount launched its bid, challenging Netflix’s $27.75-per-share agreement for WBD’s studios and streaming assets. A federal lawsuit was filed this week seeking to block the Netflix deal. WBD’s board has not yet responded to Paramount’s offer.