Warner Bros. Discovery Stock (NASDAQ: WBD): Netflix Deal vs. Paramount Bid, Analyst Forecasts, and What Matters Next (Dec. 21, 2025)
Warner Bros. Discovery shares closed at $27.77 on Friday, Dec. 19, after heavy trading, as investors focus on competing takeover bids from Netflix and Paramount. The board backs a Netflix deal offering $23.25 in cash and $4.50 in Netflix stock per share, plus a stake in a spun-off entity. Paramount has countered with a $30 per share all-cash bid, which the board calls “illusory.”