Paramount Skydance Higher Bid For Warner Bros Discovery To Block Netflix

In a significant escalation of the bidding war for Warner Bros Discovery, Paramount Skydance has submitted a revised and higher offer aimed at blocking Netflix's acquisition. Paramount's new bid reportedly exceeds its initial offer of $108.4 billion, or $30 per share, although specific details of the revision remain undisclosed. A source familiar with the matter indicated that this move is a direct response to Warner Bros' concerns regarding the certainty of financing, as Paramount seeks to solidify its position against Netflix, which had previously offered $27.75 per share, totaling $82.7 billion. As reported by Business Recorder, Warner Bros is currently reviewing the Paramount offer while still recommending the Netflix deal to its shareholders, highlighting the competitive nature of this acquisition process. Analysts from MoffettNathanson have suggested that a bid in the range of $34 per share from Paramount could conclude the bidding war, stating it would 'avoid further debate over Discovery Global's value.'