# Warner Bros.

*business · news · 2026-05-06 · CNBC*

## Key points

- Warner Bros. Discovery reported a Q1 net loss of $2.9 billion.
- The loss includes a $2.8 billion termination fee owed to Netflix after a failed transaction.
- Paramount agreed to pay the Netflix termination fee if its acquisition of WBD proceeds.
- If WBD cancels the Paramount deal for a higher offer, the termination fee liability shifts back to WBD.

**Companies:** Warner Bros. Discovery, Netflix, Paramount
**Countries:** United States

[Read the full story on CNBC](https://www.cnbc.com/2026/05/06/warner-bros-discovery-net-loss-paramount-deal.html)

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