If Warner’s board changes course and deems Paramount’s latest offer superior, Netflix will be able to revise its bid.
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Warner Bros Discovery (WBD) says it is reviewing a new takeover offer from Paramount Skydance, but it continues to recommend a competing proposal from Netflix to its shareholders in the meantime.
Warner disclosed on Tuesday that it had received a revised offer from Paramount after a seven-day window to renew talks with the Skydance-owned company elapsed on Monday. Paramount – which is run by David Ellison, son of United States President Donald Trump ally and Oracle cofounder Larry Ellison – confirmed it had submitted the proposal, but neither company provided details about it. The company was widely expected to have raised its offer.
