Warner Bros. Discovery says new Paramount bid could best Netflix offer
NBC News • • general
Key Points:
- Warner Bros. Discovery (WBD) announced that Paramount Skydance’s revised $31-per-share bid, valuing the company at about $77 billion and including a $7 billion reverse termination fee, could be preferable to Netflix’s $30-per-share deal for WBD’s studio and streaming assets.
- WBD's board has not made a final decision and continues to recommend the Netflix deal, but is open to further negotiations with Paramount and may encourage a higher bid, with Netflix allowed four business days to respond if Paramount is chosen.
- The bidding war follows months of competitive offers, with Netflix’s $72 billion acquisition plan announced in December and Paramount pursuing a hostile takeover attempt led by David Ellison, son of Oracle co-founder Larry Ell
