WBD explains that Paramount’s new $31/share offer “could reasonably be expected to” result in superior proposal over Netflix merger; YouTube is reportedly negotiating with the NFL for a four-game package; and Bob Iger is reportedly not interested in the LA28 committee chairman role should it become available. Plus news on MotoGP, ESPN, CBS Sports and the Savannah Bananas.
WBD continuing negotiations with Paramount, says proposal could end up being superior
Warner Bros. Discovery’s board of directors said Tuesday that it has concluded that Paramount’s amended offer to acquire the media conglomerate “could reasonably be expected to lead to a ‘company superior proposal'” over the Netflix merger. WBD also shared that it will continue engaging with Paramount to see if it can reach a proposal that would justify backing out of its $82.7 billion merger with Netflix.
As part of the new development on Tuesday, WBD noted that “[t]here can be no assurance” that the board will determine Paramount’s offer “is superior to the merger with Netflix,” or that the company will ultimately strike an agreement or transaction. WBD’s board of directors has not deemed the Paramount proposal “superior,” nor altered its recommendation for the Netflix merger. Under the merger agreement, if Warner Bros. Discovery determines the Paramount deal “constitutes a ‘company superior proposal,'” Netflix would have “at least four business days” to negotiate with WBD.
The sides were initially able to resume discussions last week after Netflix granted a seven-day waiver that expired Monday night at 11:59 PM ET. The amended offer from Paramount, which was first reported on Monday night, comes in at $31/share and boosts the regulatory termination fee to $7 billion, which is an increase from the $5.8 billion mark it had previously offered in line with Netflix. Paramount is continuing to cover the $2.8 billion termination fee that WBD would owe Netflix if it did not go forward with the merger. The revision also moves the $0.25/share “ticking fee” payable to WBD shareholders for every quarter the deal does not close up by three months, now “beginning after September 30, 2026.”
Paramount is continuing to bid for the entirety of WBD, whereas Netflix would only be acquiring a suite of studio and streaming assets owned by the media conglomerate. In a statement Tuesday, Paramount said it “welcomes” the board’s determination and that it “looks forward to continuing to engage constructively with WBD.” The Netflix merger is an all-cash deal for $27.75/share that leaves Discovery Global to be a standalone entity, the value of which has been the subject of debate for several months.
YouTube reportedly negotiating with NFL for four-game rights package
YouTube is negotiating with the National Football League for a package of four games the league retained as part of its equity deal with ESPN, according to a report by Austin Karp and Ben Fischer of Sports Business Journal. YouTube streamed an NFL game for the first time last season when the Los Angeles Chargers faced the Kansas City Chiefs from São Paulo, Brazil. NFL commissioner Roger Goodell, while talking about YouTube with CNBC in September, said that there are “so many different directions the relationship will go, and it won’t be one, it’ll be many.”
There is no guarantee that the four games could all be international contests as they have been previously when airing on NFL Network. A scenario exists where games airing on ESPN-owned NFL Network could be an entirely international slate, none at all or anywhere in between. The NFL is playing nine games internationally next season with an aspiration to eventually reach a 16-game schedule abroad, allowing every team to play outside of the United States once per season.
YouTube already owns rights to NFL Sunday Ticket in a reported seven-year deal said to be worth $2 billion annually. Although the company has not revealed the figures publicly, Antenna said that the service had 2.1 million subscribers in Q3 2025.
The NFL may also have interest in expanding its Black Friday slate of games, per Karp and Fischer’s report. Amazon’s Prime Video has broadcast one NFL game per year on the unofficial holiday for the last three seasons, and the platform picked up global rights for the contest this past October. The game averaged its largest audience yet last season.
Iger reportedly not interested in LA 2028 committee chairman role
Outgoing Disney CEO Bob Iger, who is set to conclude his tenure next month, is reportedly “not interested” in taking over as committee chairman for the LA28 Olympics if Casey Wasserman decides to step down, according to a report by Benjamin Lindsay and Sharon Waxman of TheWrap. Iger had been speculated as a potential candidate to take over for Wasserman, who has been linked to the infamous criminal Jeffrey Epstein and his accomplice Ghislaine Maxwell. “He has not officially been approached about the opportunity to lead the committee, but he would not accept the offer if he were, an individual familiar with Iger’s thinking said,” the report read.
Los Angeles Mayor Karen Bass told CNN last week that she thinks Wasserman “should step down” from the Olympics organizing committee. That came after the LA28 executive committee backed Wasserman in a statement provided to ESPN, citing a review and previous leadership. “We found Mr. Wasserman’s relationship with Epstein and Maxwell did not go beyond what has already been publicly documented. The Executive Committee of the Board has determined that based on these facts, as well as the strong leadership he has exhibited over the past ten years, Mr. Wasserman should continue to lead LA28 and deliver a safe and successful Games.”
TheWrap had previously reported that the Wasserman agency would have a new name after he divests his ownership stake of “roughly 40%.” Matthew Belloni of Puck reported last week that a buyer for Wasserman would attain “the sports and music agencies, plus the various marketing and branding firms that represent about half of its business, plus the Brillstein talent management firm.”
Josh D’Amaro will begin his tenure as CEO of The Walt Disney Company on Wednesday, March 18. Iger is going to remain a company board member and senior adviser until he retires from TWDC on Thursday, Dec. 31.
Plus: MotoGP, ESPN, CBS Sports, Savannah Bananas
- Fox Sports will continue to air MotoGP races this year as the property enters its first full season under Liberty Media ownership, according to a report by Adam Stern of Sports Business Journal. Moreover, the Fox broadcast network will reportedly be airing the U.S. Grand Prix taking place from Circuit of the Americas as part of the schedule for this year, per Stern.
- Sue Bird and Diana Taurasi will not be returning as co-hosts of “The Bird & Taurasi Show” alternate broadcast for Final Four coverage on ESPN’s coverage of the NCAA Division I Women’s Basketball Tournament, it was revealed by ESPN SVP/production Meg Aronowitz at an event Tuesday. Aronowitz explained that the network is “reimagining” the alternate presentation and expressed gratitude for both former women’s basketball stars.
- Paramount+ will be the streaming home for English-language broadcasts of Concacaf Women’s competitions through the 2029-30 season, CBS Sports announced on Tuesday. Under this agreement, the platform will be airing the Concacaf W Champions Cup for the next four seasons, along with the Concacaf W Nations League in 2028 and Concacaf W Gold Cup in 2029.
- The Savannah Bananas are returning to ESPN platforms under a new 25-game exclusive package that includes a national showcase matchup airing Sunday, June 28 on ABC, the network announced Tuesday. Some games will be airing on the ESPN and ESPN2 networks, while all matchups are available to stream through the ESPN App and Disney+.
