Staff at Warner Bros. Discovery have shifted toward supporting a potential acquisition by Netflix rather than a full takeover by Paramount Skydance, sources indicate. This change in sentiment follows initial divisions and concerns over job security and company culture. The board continues to recommend the Netflix agreement amid ongoing negotiations.
The mood inside Warner Bros. Discovery has evolved significantly since the announcement of Netflix's proposed deal to acquire its studios and HBO Max on December 5, 2025. Initially, employee opinions were split by division, with some at HBO viewing HBO Max as potentially dominant over Paramount+ and others at the Warner Bros. studios worried about Netflix altering production strategies for streaming. However, Paramount Skydance's aggressive cost-cutting and layoffs following its August 2025 closure have raised alarms, especially given projections of up to $6 billion in synergies from a merger, likely leading to substantial job reductions.
Netflix co-CEOs Ted Sarandos and Greg Peters addressed these concerns directly during a December 17, 2025, town hall on the Burbank lot, hosted by Warner Bros. Discovery chief David Zaslav. "Ted and Greg really worked at it," one WBD executive noted. "They spoke directly about their intentions and why they wanted it. That put a lot of people in a better place about it." Under the Netflix plan, the film studio, lot, and TV studio would remain Warner Bros.-branded and largely intact, easing fears among film personnel who had doubted commitments to theatrical releases despite pledges for a 45-day exhibition window.
In contrast, Paramount Skydance's ties to the Trump administration and recent shifts at CBS News under editor-in-chief Bari Weiss, including staff buyouts and perceived dysfunction, have unsettled WBD employees, particularly those at CNN. One CNN source remarked, "To watch CBS News crumble is disconcerting when Paramount is trying to come in and buy Warner Bros. Discovery including CNN." Paramount proposes acquiring the entire company, while Netflix's deal would spin off networks like CNN, TBS, HGTV, and Food Network into a new entity, Discovery Global, led by Gunnar Wiedenfels.
As of February 19, 2026, a seven-day negotiation window with Paramount Skydance remains open until February 23, with their bid at $30 per share. The WBD board recommends shareholders approve the Netflix deal at a March 20 meeting, though outcomes could shift post-Q4 2025 earnings on February 26. Recent box office successes like "Sinners" and "Weapons" bolster the studios' value, while productions such as "Superman: Man of Tomorrow" and a "The Batman" sequel proceed under DC Studios heads James Gunn and Peter Safran. Employees express weariness from the 2022 Discovery-WarnerMedia merger and desire resolution to focus on operations.
