Paramount Expected to Raise Price of Warner Bros. Bid, Will Netflix Walk Away?
Variety • • business
Key Points:
- Paramount Skydance is expected to submit a revised offer above $30 per share for Warner Bros. Discovery (WBD) by the Monday deadline, likely around $32 per share, aiming to outbid Netflix in the acquisition battle.
- Warner Bros. Discovery’s board, with Netflix’s permission, opened a seven-day negotiation window with Paramount, ending Feb. 23, after which Netflix has four days to match any improved offer or withdraw from the deal.
- Netflix co-CEO Ted Sarandos emphasized the company’s disciplined approach to acquisitions, stating Netflix is willing to walk away if the price exceeds their valuation, despite having a signed deal with WBD at $27.75 per share.
- If WBD accepts Paramount’s higher bid,
