NEW YORK, February 2, 2026, 11:14 EST — Market open for regular trading.
- Netflix shares slipped 0.1% to $83.39 in late morning trading
- A report indicates Warner Bros Discovery’s vote on the Netflix deal is expected in March
- Paramount Skydance faces a bid deadline on Feb. 20
Netflix shares slipped 0.1% to $83.39 on Monday following reports that Warner Bros Discovery plans a shareholder vote in March on an $82.7 billion proposal to sell its streaming and studio businesses to Netflix. (Reuters)
The timing is key: a vote would shift the proposal from headline risk to a fixed date on the calendar. Traders have been eager for concrete deadlines after weeks of deal chatter. Approval would push the transaction further into regulatory review, where competition authorities might still delay or alter the deal. (Bloomberg)
Lawmakers are weighing in as well. The U.S. Senate Judiciary Committee has set a hearing on the competitive effects of the deal for Feb. 3 at 2:30 p.m., to be held in the Dirksen Senate Office Building, per committee and congressional schedules. (Senate Judiciary Committee)
CNBC reported the timing of the March vote. Requests for comment from Netflix and Warner Bros Discovery sent to Reuters went unanswered.
The deal is progressing as Paramount Skydance pushes its tender offer deadline to Feb. 20. This offer lets the company buy shares straight from shareholders, usually at a fixed price.
Warner Bros Discovery’s board has turned down Paramount’s offer, labeling it “inadequate” and “not in the best interests” of shareholders, according to Reuters. The report added that Paramount might ramp up pressure, potentially seeking to replace board members if the Netflix deal fails to pass.
Netflix’s pitch is clear: boost franchises, deepen the library, and cut down on licensing battles. The Warner package brings big names like Friends and Batman, ripe for new series and spinoffs if the deal goes through.
The stock’s move on Monday was modest, yet the tape remains twitchy over any change in the deal’s likelihood. Investors are also focused on whether the process drags management into a drawn-out, public battle.
The downside is straightforward. Antitrust scrutiny — which can stall mergers or demand concessions — might drag on for months. Plus, the shareholder vote isn’t a sure thing. A higher counterbid, added conditions, or a stricter regulatory approach could swiftly change the entire trade’s valuation.
Tuesday’s Senate hearing comes next, along with any indication Paramount might shift its stance before the Feb. 20 deadline. Also on watch: whether Warner officially announces a March vote date.
