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.<\/p>\n
Paramount reportedly raises offer for Warner Bros. Discovery<\/p>\n
Paramount has raised its bid to acquire Warner Bros. Discovery, according to Lucas Shaw of Bloomberg<\/a>. 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<\/a> cited insiders who said that Paramount would likely bid $32\/share in a revised offer.<\/p>\n 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 \u201cbest and final proposal\u201d 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 \u201cprepared to engage in good faith and constructive discussions\u201d while maintaining plans with its hostile tender offer and intent to \u201cnominate a slate of directors\u201d during WBD\u2019s annual meeting.<\/p>\n The development comes amid reports that Netflix is facing scrutiny from the U.S. government about its \u201cbehavior and whether it wields anticompetitive leverage over creators in negotiations for acquiring programming,\u201d per<\/a> Shaw. Netflix co-CEO Ted Sarandos has recently stated that Paramount is \u201cflooding the zone with misinformation\u201d 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 \u201cas of June 30, 2026.\u201d Sarandos has said that the Netflix deal is worth $27.75\/share \u201cplus the value of Discovery Global,\u201d which has been the subject of continuing debate.<\/p>\n 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 \u201cticking fee\u201d 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 \u201cno statutory impediment\u201d 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<\/a>, arguing that Paramount has \u201cnot secured approvals needed to close\u201d and is \u201ca long way from doing so.\u201d<\/p>\n Braves in talks with distributors as plans for RSN continue<\/p>\n The Atlanta Braves are in talks with distributors \u2014 including Comcast, Charter, DIRECTV and \u201cpossibly\u201d YouTube TV and Hulu \u2014 as they prepare to launch their own RSN prior to the start of the MLB season, according to Tom Friend of Sports Business Journal<\/a>. 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.<\/p>\n 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 \u2014 the latter of which has simulcast Hawks games the last three seasons as part of a partnership with the team and FanDuel Sports Network \u2014 and Predators CMO Bill Wickett told Friend that the team has not spoken to the Braves.<\/p>\n The Braves will be prepared to launch their own network before the MLB regular season begins, according to Friend. Fifteen of the team\u2019s spring training games are being distributed to local markets as part of a partnership with Gray Media. The Braves and Angels<\/a> are the only two MLB teams yet to announce their linear television arrangements for the 2026 season. Friend previously reported<\/a> that the Angels are considering buying their old Main Street RSN, in which they have joint ownership.<\/p>\n 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.<\/p>\n WNBA reportedly sets deadline for CBA negotiations<\/p>\n 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<\/a>. No WNBA games have ever been lost due to a work stoppage. The players union granted the executive committee authorization \u201cto call a strike when necessary\u201d this past December.<\/p>\n 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\u2019 side reportedly proposed a deal that \u201cwould 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,\u201d per Katie Barnes of ESPN<\/a>. The WNBA called this proposal \u201cunrealistic\u201d and countered with a deal featuring a $5.65 million and what amounts to less than 15% of gross revenue, according to numerous reports.<\/p>\n Barnes also reported that the WNBA told the union\u2019s player leadership that it \u201chit the benchmark\u201d 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 \u201cproposed per-player distribution,\u201d as written in the most-recent CBA<\/a>.<\/p>\n 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.<\/p>\n Plus: ESPN, DirecTV, Philadelphia Phillies, Seattle Kraken,<\/p>\n\n