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Warner Bros. Discovery Inc. said a new $31-a-share buyout offer from Paramount Skydance Corp. could lead to a better deal than its existing agreement with Netflix Inc., kicking off another potential round of bidding for the famed Hollywood studio.
Warner Bros. isn’t withdrawing its recommendation that investors support Netflix’s $27.75-a-share agreement to buy the company’s studio and HBO operations, according to a statement Tuesday. Instead, it’s saying the latest Paramount terms meet the threshold for further talks.
“The board has not made a determination as to whether the revised” Paramount proposal is superior to the merger with Netflix, Warner Bros. said. It plans more talks with Paramount and said Netflix will have four business days to respond if the board backs the sweetened offer.
Warner Bros. isn’t withdrawing its recommendation that investors support Netflix’s $27.75-a-share agreement to buy the company’s studio and HBO operations, according to a statement Tuesday. Instead, it’s saying the latest Paramount terms meet the threshold for further talks.
“The board has not made a determination as to whether the revised” Paramount proposal is superior to the merger with Netflix, Warner Bros. said. It plans more talks with Paramount and said Netflix will have four business days to respond if the board backs the sweetened offer.

