Paramount Raises Warner Bros Discovery Offer, Challenging Netflix Deal

Paramount Skydance has raised its offer to acquire Warner Bros Discovery to $31 per share in cash, surpassing its previous $30 bid and challenging Netflix's $27.75 per share deal. Warner Bros' board acknowledged the revised Paramount proposal could lead to a superior offer, prompting further negotiations. Paramount's bid includes increased termination fees and financial assurances, while Netflix retains the right to match any higher offer. Shareholders await a decision amid a high-stakes bidding war for the iconic Hollywood studio.