Warner Bros. Discovery claims to be examining its updated proposal for Paramount

Warner Bros. Discovery said Tuesday that it is reviewing Paramount’s revised offer as it competes with Netflix to acquire the company, although it did not disclose the terms of Paramount’s latest offer and noted that Netflix’s acquisition agreement is still in effect.

Warner Bros. Discovery said in a statement Tuesday morning that its board of directors is reviewing Paramount’s offer with legal and financial advisors, but said the board continues to recommend in favor of the Netflix acquisition agreement.

The exact details of Paramount’s revised offer are unclear, but Bloomberg reported on Monday that Paramount was expected to offer more than $30 per share, improving on its previous offer.

The new offer also addresses some of Warner Bros. Discovery’s concerns with Paramount’s previous offers, including concerns about financing, according to Bloomberg.

Despite without revealing the details of Paramount’s most recent offer and pointing out that Netflix’s acquisition agreement is still in force, Warner Bros. Discovery announced on Tuesday that it is examining Paramount’s updated offer as it bids against Netflix to acquire the business.

Warner Bros. Discovery said in a statement on Tuesday morning that while its board of directors is considering Paramount’s offer with financial and legal counsel, the board still supports the Netflix takeover deal.

Although the specifics of Paramount’s updated offer are unknown, Bloomberg stated on Monday that Paramount was anticipated to improve on its prior offer by offering more than $30 per share.

Additionally, the new offer addresses some of Warner Bros.’ concerns. According to Bloomberg, investigate Paramount’s previous offers, including those pertaining to financing.