# Netflix co-CEO Ted Sarandos is set to testify on Tuesday before a Senate panel.

*business · news · 2026-02-03 · Fox Business*

## Key points

- Netflix amended its Warner Bros. Discovery acquisition bid to an all-cash offer at $27.75 per share.
- Warner Bros. Discovery's board unanimously rejected Paramount's higher-value offer, citing Netflix's deal as superior.
- The Senate committee hearing will include testimony from top Netflix and Warner Bros. Discovery executives.
- Paramount's rival bid would require significant debt financing and was deemed riskier by Warner Bros. Discovery.

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

[Read the full story on Fox Business](https://www.foxbusiness.com/markets/netflix-co-ceo-ted-sarandos-faces-senate-hearing-over-massive-72b-warner-bros-takeover-deal)

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