The new offer refines the proposal Paramount presented to Warner Bros. shareholders. December 8. Then the offer was $30 per share. According to Reuters, WBD expected Paramount to offer a price above $31 per share. There is no information yet on the details of the new proposal.
Warner previously rejected the company's $108 billion offer in favor of Netflix, which intends to buy only the streaming service and studios for $83 billion.
However, WBD gave Paramount Skydance a chance to beat Netflix's offer and seven days to talk and present the final terms of the transaction. This deadline expires on Monday.
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If Warner Bros. management considers Paramount's new offer to be better than the current contract, Netflix will have four days to respond to it.
Paramount wants to acquire all of WBD, while Netflix is offering to buy only the part of the company responsible for streaming platforms and film studios, without WBD's television channels such as CNN, MTV, TNT and Poland's TVN. The price offered by Netflix is $27.75 per share.
