Paramount reportedly raises its offer for Warner Bros. Discovery; the Atlanta Braves are reportedly in talks with distributors; and the WNBA is said to have set a deadline in CBA talks without impacting the upcoming season. Plus news on ESPN, DirecTV, the Philadelphia Phillies and Seattle Kraken.
Paramount reportedly raises offer for Warner Bros. Discovery
Paramount has raised its bid to acquire Warner Bros. Discovery, according to Lucas Shaw of Bloomberg. While the exact figure is unknown, it is believed to mark an improvement over the $30/share all-cash hostile tender offer Paramount presented to WBD shareholders in December. Earlier in the day, Todd Spangler and Matt Donnelly of Variety cited insiders who said that Paramount would likely bid $32/share in a revised offer.
A WBD board member was previously informed by a senior Paramount presentative that the company would increase its bid to $31/share if the sides resumed discussions, WBD revealed in an SEC filing this month. Additionally, the Paramount representative said that the increased bid would not be the “best and final proposal” from the company, which has continued to argue that its bid is superior to that of Netflix. The two sides have been able to engage in discussions under a seven-day waiver that expires Monday at 11:59 PM ET. In acknowledging the waiver, Paramount said that it was “prepared to engage in good faith and constructive discussions” while maintaining plans with its hostile tender offer and intent to “nominate a slate of directors” during WBD’s annual meeting.
The development comes amid reports that Netflix is facing scrutiny from the U.S. government about its “behavior and whether it wields anticompetitive leverage over creators in negotiations for acquiring programming,” per Shaw. Netflix co-CEO Ted Sarandos has recently stated that Paramount is “flooding the zone with misinformation” while also expressing confidence in the existing merger agreement. The Netflix agreement would leave TNT, CNN and other cable properties as part of the Discovery Global spin company, which is slated to hold $17 billion of debt “as of June 30, 2026.” Sarandos has said that the Netflix deal is worth $27.75/share “plus the value of Discovery Global,” which has been the subject of continuing debate.
As part of a modified hostile tender offer earlier this month, Paramount pledged to cover the $2.8 billion termination fee Warner Bros. Discovery would owe Netflix if it did not go forward with the merger. Paramount also introduced a $0.25 “ticking fee” that it would pay to shareholders for every quarter the deal did not close starting after Dec. 31, 2026. Paramount said last Friday that there is “no statutory impediment” in the United States to closing a deal to acquire WBD, citing the expiration of a 10-day waiting period. Netflix pushed back on the claim in a statement provided to Bloomberg, arguing that Paramount has “not secured approvals needed to close” and is “a long way from doing so.”
Braves in talks with distributors as plans for RSN continue
The Atlanta Braves are in talks with distributors — including Comcast, Charter, DIRECTV and “possibly” YouTube TV and Hulu — as they prepare to launch their own RSN prior to the start of the MLB season, according to Tom Friend of Sports Business Journal. The RSN in question could include the Atlanta Hawks, Memphis Grizzlies and Nashville Predators, all of whom are currently part of the Main Street Sports Group (FanDuel Sports Network) portfolio. The Braves were also part of Main Street until last month, when all nine MLB teams under contract with the RSN owner opted out of their deals.
It is not clear whether the Hawks, Grizzlies and Predators will be receptive. Friend cited sources who said that the Hawks are talking to Gray Media and Peachtree TV — the latter of which has simulcast Hawks games the last three seasons as part of a partnership with the team and FanDuel Sports Network — and Predators CMO Bill Wickett told Friend that the team has not spoken to the Braves.
The Braves will be prepared to launch their own network before the MLB regular season begins, according to Friend. Fifteen of the team’s spring training games are being distributed to local markets as part of a partnership with Gray Media. The Braves and Angels are the only two MLB teams yet to announce their linear television arrangements for the 2026 season. Friend previously reported that the Angels are considering buying their old Main Street RSN, in which they have joint ownership.
The seven other MLB teams who were with Main Street Sports Group last season have shifted production and distribution of their games to the in-house MLB media arm, but it remains to be seen what will come of the NBA and NHL teams under contract with Main Street. Earlier in the month, it was revealed that MLB Media will produce and distribute Detroit Red Wings games starting next season as part of a partnership with Ilitch Sports + Entertainment.
WNBA reportedly sets deadline for CBA negotiations
The WNBA reportedly informed the WNBPA and its teams during a virtual meeting Monday that it is setting a March 10 deadline to reach a new collective bargaining agreement without impacting the 2026 schedule, according to Alexa Philippou of ESPN. No WNBA games have ever been lost due to a work stoppage. The players union granted the executive committee authorization “to call a strike when necessary” this past December.
The league and the union remain apart on a revenue sharing structure. While the WNBPA is seeking a cut of gross revenue, the league has reportedly yet to waver from offering a net revenue share. The players’ side reportedly proposed a deal that “would give the players 27.5% of gross revenue over the course of the agreement along with a salary cap less than $9.5 million in Year 1,” per Katie Barnes of ESPN. The WNBA called this proposal “unrealistic” and countered with a deal featuring a $5.65 million and what amounts to less than 15% of gross revenue, according to numerous reports.
Barnes also reported that the WNBA told the union’s player leadership that it “hit the benchmark” last year to trigger revenue sharing with players. This will result in the league paying its 13 teams a collective $8 million to be distributed to players who were active last year, per Barnes. The WNBPA has 30 days to present the league with a “proposed per-player distribution,” as written in the most-recent CBA.
The WNBA regular season is scheduled to begin on May 8, preceded by the WNBA Draft, training camps and preseason games. The league still has to conduct free agency and an expansion draft for the new Portland Fire and Toronto Tempo.
Plus: ESPN, DirecTV, Philadelphia Phillies, Seattle Kraken,
- ESPN has signed International Tennis Hall of Fame member Andy Roddick to a multiyear deal to serve as a match and studio analyst for Wimbledon and the US Open, it was announced Monday. A 2003 US Open champion, Roddick also has television experience as an original member of the FS1 “Fox Sports Live” panel and Wimbledon analyst for BBC in 2015. Roddick has hosted the “Served” podcast since January 2024 and inked a partnership for the show with Vox Media later that year.
- DirecTV subscribers are now able to purchase an Apple TV subscription through their DirecTV accounts or link an existing one, the company announced Friday. It is not necessary to exit the DirecTV app to view live sports from Apple TV, a content ingestion that takes place ahead of the Formula 1 season and fifth year of “Friday Night Baseball.”
- Taryn Hatcher confirmed that she will not be part of Philadelphia Phillies coverage this season, revealing that her “role on the sidelines at [NBC Sports Philadelphia] was being eliminated moving forward.” Phillies play-by-play announcer Tom McCarthy also said that Hall of Fame 3B Mike Schmidt, who occasionally appeared on some weekend broadcasts, would not be “[on] the air” this season, adding that it was Schmidt’s choice.
- TEGNA will continue to air Seattle Kraken games on local stations under a multiyear extension of their partnership, which first began during the 2024-25 season, it was announced last week. As part of the deal, the team’s “non-nationally televised games” will be accessible through KONG and Prime Video, and Seattle-based KING 5 is going to simulcast up to 20 games.
