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Paramount Raises Bid for Warner Bros. Discovery Amid Ongoing Negotiations

KVIA••CNN Newsource
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Paramount has officially increased its bid for Warner Bros. Discovery (WBD), the parent company of CNN, prompting WBD's board to review the new proposal. Previously, Paramount offered $30 per share, which WBD rejected as inadequate compared to its existing deal with Netflix. Although the exact new offer price remains undisclosed, it is reported to exceed $30 per share. Analysts predict that Netflix may counter Paramount's latest offer, despite Netflix's co-CEO indicating a willingness to let others overpay. WBD's board is currently consulting financial and legal advisors to assess the situation and will update shareholders accordingly.

Key Details: • Paramount's new offer exceeds $30 per share, exact figure not disclosed. • WBD's board is reviewing the proposal with financial and legal advisors. • Netflix has granted WBD a seven-day exemption to discuss with Paramount. • WBD still recommends proceeding with the current Netflix merger agreement.

business entertainment paramount warner-bros merger

People & Organizations

ParamountWarner Bros. DiscoveryNetflixDavid ZaslavTed Sarandos

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