Details of offer not immediately available as Paramount looks to beat rival Netflix for control of Warner Bros

Details of offer not immediately available as Paramount looks to beat rival Netflix for control of Warner Bros

If WBD deems the new Paramount offer superior, Netflix will have four days to improve its previously agreed-upon bid.

If Warner’s board changes course and deems Paramount’s latest offer superior, Netflix will be able to revise its bid.

Neither company provided further details on the revised Paramount bid, but it was widely expected to have raised its offer.

WBD's board is still reviewing the offer.

Warner Bros says the latest proposal could convince it to abandon the deal it struck with Netflix.

Warner Bros said Paramount's revised offer includes a purchase price of $31.00 per share in cash, a one-dollar-per-share increase from its earlier offer, which was valued at…

Warner Bros. Discovery announced Tuesday that Paramount Skydance has raised its purchase offer to $31 per share, which may top Netflix's offer.

That could mean the start of a fresh bidding war over Warner.

WBD has valued Paramount Skydance's latest takeover offer as superior to a deal with Netflix, another twist in the ongoing battle for the legacy media assets.

Netflix's decision to back down from the bidding war clears the path for Paramount to win the takeover battle.