Warner Bros. Discovery Likely to Review New Offer From Paramount
Variety • • business
Key Points:
- Warner Bros. Discovery (WBD) board is likely to inform shareholders before Tuesday's market open that it is taking Paramount Skydance's takeover bid under review, while still recommending the existing Netflix transaction set for a March 20 vote.
- Paramount Skydance has submitted a higher offer for WBD, reportedly above $31 per share, prompting WBD to seek clarity on the "best and final offer," with financial terms yet undisclosed.
- Netflix has four days to match Paramount's bid or exit the bidding process; however, WBD is legally bound to recommend its nearly $83 billion agreement with Netflix, which involves acquiring Warner Bros. studios and HBO Max.
- Paramount's $108 billion offer covers all of W
