Warner Bros. Discovery said Tuesday it has received a revised offer from Paramount to buy the entire company for $31 a share, up from its previous per-share purchase price of $30. It’s Paramount’s latest effort to derail rival bidder Netflix, which has a deal to buy the company’s prized studios and HBO Max streaming service.
Warner said in a statement its board of directors determined Paramount’s revised bid “could reasonably be expected to lead” to a proposal superior to Netflix’s signed agreement.
Should Warner decide Paramount’s offer is better, Netflix has the right to match it, under the terms of its purchase agreement. Warner said its board hasn’t made that determination yet. If it does, Netflix would have a four-day window to make a new offer.
Comments
No comments on this item Please log in to comment by clicking here