Warner Bros. Discovery said Tuesday it will restart deal talks with Paramount, setting the stage for a potential bidding war with its preferred suitor Netflix.
The move comes after Paramount last week sweetened its all-cash $77.9 billion hostile offer for all of Warner Discovery, including its cable channels CNN and TNT.
Warner said Paramount has indicated it would be willing to up its offer to $31 per Warner share from $30 if Warner would agree to engage in negotiations. The price increase wasn’t part of Paramount’s latest amended tender offer for the company.
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