Source: Reuters (via feed)
Warner Bros Discovery has declared Paramount Skydance’s revised $31-per-share offer as superior to its current agreement with Netflix. The statement sets a four-business-day deadline for Netflix to respond or exit the bidding process for the Hollywood studio. This announcement follows a competitive bid scenario involving major entertainment industry players. Warner Bros Discovery did not provide further details about the terms or potential conditions attached to the offers. Meanwhile, the decision intensifies the scrutiny on Netflix’s next move amid the ongoing negotiations. The timeframe compels Netflix to make a prompt decision regarding its interest in acquiring Warner Bros Discovery. As the deadline approaches, the outcome remains uncertain. Industry watchers remain attentive to how this bidding war influences the studios’ strategic directions. Previous offers, including Netflix’s, are overshadowed by Paramount Skydance’s higher proposal.
This decision impacts market dynamics by compelling Netflix to act quickly amid increased competition for a major studio acquisition.
