The ongoing battle for Warner Bros Discovery (WBD) between Paramount Skydance and Netflix has intensified with Paramount's latest strategic move. On February 11, 2026, Paramount announced enhancements to its $30 per share all-cash offer, which includes a 'ticking fee' of $0.25 per share for each quarter the deal remains unclosed beyond 2026, totaling approximately $650 million per quarter (Business Recorder). Paramount also committed to covering a $2.8 billion termination fee that Warner Bros would owe Netflix if their deal falls through (Reuters). Despite these sweeteners, Paramount's offer remains at $108.4 billion, including debt, and analysts suggest this might not be sufficient to sway Warner Bros away from Netflix, whose offer stands at $82.7 billion (Reuters, Financial Times).