Barcelona, March 3, 2026 – Paramount Skydance (PARA) appears to have a smoother regulatory path in its pursuit of Warner Bros. Discovery Inc. (WBD), as FCC Chairman Brendan Carr reportedly described the bid as “cleaner” compared with a prior proposal from Netflix Inc. (NFLX).

Speaking at the Mobile World Congress in Barcelona, Carr told CNBC that Paramount’s offer raises fewer competitive red flags than Netflix’s earlier attempt to acquire key WBD assets. He suggested that Paramount’s structure could move through the review process more quickly, calling it “a lot cleaner” and “does not raise at all the same types of concerns.” Carr added that the deal could yield real consumer benefits.

Stock Reaction and Retail Sentiment

Despite the favorable regulatory outlook, Paramount shares traded over 7% lower at noon on Tuesday. However, retail investor sentiment on Stocktwits remained in “extremely bullish” territory with “extremely high” message volume.

Netflix’s Competing Proposal

Netflix had proposed acquiring WBD’s studio and streaming divisions for $82.7 billion, which raised concerns among regulators over streaming concentration, particularly the potential combination with HBO Max. Paramount launched a hostile bid, offering $31 per share, and was deemed the winner after Netflix declined to increase its proposal.

Paramount’s acquisition of WBD values the company at an enterprise value of $110 billion, with a $45.7 billion investment from the Ellison family and RedBird Capital Partners.

Over the past 12 months, Paramount Skydance (PSKY) stock has gained more than 5%, reflecting investor confidence in the company’s growth trajectory and its strategic acquisition moves.