Warner Bros. Discovery receives a new offer from Paramount

In an effort to challenge the sale deal the venerable studio has with Netflix, Warner Bros. Discovery (WBD) revealed Tuesday that its board of directors has received a fresh offer from Paramount Skydance (PSKY) priced at $31 per share.

In a statement, WBD said that the present deal with Netflix, which calls for the sale of WBD’s studios and streaming companies to Netflix for $27.75 per share, may not be as advantageous for shareholders as Paramount’s updated offer.

Netflix would have four days to renegotiate with WBD and make a counteroffer if Warner’s board of directors determines that Paramount’s updated offer is better.

PSKY has increased its cash offer from $30 per share to $31.

It also pledges to pay $7 billion if the merger fails due to regulatory issues and gives $0.25 per share every quarter if the deal does not conclude beyond September 2026.PSKY has increased its cash offer from $30 per share to $31.

It also pledges to pay $7 billion if the merger fails due to regulatory issues and gives $0.25 per share every quarter if the deal does not conclude beyond September 2026.