Form 8-K · Current Report · Filed 2026-02-27
Netflix Terminates Merger Agreement with Warner Bros. Discovery
On February 27, 2026, Netflix, Inc. announced the termination of its previously disclosed Amended and Restated Agreement and Plan of Merger with Warner Bros. Discovery, Inc. (WBD). The termination was due to WBD accepting a superior proposal from Paramount Skydance Corporation, leading to the payment of a $2.8 billion termination fee to Netflix. This termination also resulted in the automatic cancellation of several financial commitments associated with the merger, including a bridge commitment letter, incremental commitments agreement, senior unsecured revolving credit agreement, and a delayed draw term loan credit agreement.
- Filer
- Netflix Inc. NFLX · NASDAQ
- Filed
- Accession
- 0001193125-26-082247
- CIK
- 0001065280
- Signal
- Medium impactCommunication Services
- Source
- Official filing on sec.gov ↗
Items reported
Reported Item
Market reaction
Close before filing
$84.59
Next session
+14.8%
Since filing
-15.2%
Latest close
$71.71
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from NFLX reporting the same item, with the next session's move:
About Netflix Inc.
Netflix Inc. is an American conglomerate in the entertainment industry focused on streaming services and production of television content and films. Its primary function is to offer a subscription-based streaming service that provides a wide array of films, documentaries, and television series across diverse genres. Since its inception as a DVD rental service by mail, Netflix has evolved to a dominant player in the digital streaming market, impacting sectors such as media, technology, and telecommunications. Notable for its original programming, including critically acclaimed series and films, Netflix has a significant influence on viewing habits and content consumption globally. Its innovation in content delivery and recommendation algorithms contribute to its market significance, often setting standards in content accessibility and viewing personalization. Additionally, Netflix operates internationally, offering content in multiple languages to a global audience, reflecting its role as a major force in the cultural and entertainment landscape.
Never miss another NFLX filing
Profitelligence watches EDGAR around the clock and alerts you within seconds.