Paramount Raises Bid for Warner Bros Discovery Amid Competition with Netflix

Paramount Skydance has submitted a higher bid to acquire Warner Bros Discovery, challenging Netflix's existing agreement to buy the studio and streaming assets. Paramount's revised offer improves on its previous $108.4 billion proposal, addressing Warner Bros' concerns about financing certainty. Warner Bros reopened talks with Paramount, allowing Netflix four days to respond if the board deems Paramount's offer superior. The bidding war centers on valuable franchises like Harry Potter and Game of Thrones, with investors set to vote on Netflix's deal in March.