Warner Bros. Discovery Stock (WBD) Today: Netflix Deal vs. Paramount’s $30 Tender Offer, Latest News, Analyst Forecasts and What Comes Next (Dec. 12, 2025)
Paramount Skydance launched a $30-per-share all-cash tender offer for all of Warner Bros. Discovery on Dec. 8, 2025, challenging Netflix’s $27.75-per-share bid for WBD’s studios and HBO Max. WBD shares are trading in the high-$20s as investors weigh the rival bids, regulatory risks, and the fate of the company’s cable networks.