"Members of the Warner Bros. board are discussing whether Paramount could offer a path to a superior deal, people familiar with the board's thinking said, a move that may ignite a second bidding war with Netflix Inc. The board hasn't decided how to respond and still has a binding agreement with Netflix, said the people, who asked not to be identified discussing nonpublic information."
"Paramount submitted amended terms last week that addressed several concerns. The company will cover a $2.8 billion fee owed to Netflix if Warner Bros. terminates their agreement, and is offering to backstop a Warner Bros. debt refinancing. Paramount also said it will compensate Warner Bros. shareholders if the deal doesn't close by Dec. 31, underscoring its confidence that the deal will get swift regulatory approval."
"It has also faced pressure from shareholders to at least engage with Paramount. Warner Bros. has agreed to sell its namesake studio and HBO Max streaming business to Netflix in a $27.75 a share deal. Warner Bros. has been racing to hold a shareholder vote on its Netflix agreement, while Paramount, the owner of CBS and MTV, has been appealing directly to Warner Bros. shareholders through a $30-a-share tender offer and is lobbying regulators to approve its deal."
Warner Bros Discovery is weighing whether to reopen sale talks with Paramount Skydance after receiving amended takeover terms. Paramount's revised offer would cover the $2.8 billion termination fee owed to Netflix, backstop Warner Bros. debt refinancing, and compensate shareholders if the deal misses a Dec. 31 close, signaling confidence about regulatory approval. The Warner Bros. board remains bound by a sale agreement with Netflix at $27.75 per share and has not decided how to respond. Paramount is pursuing a $30-per-share tender and lobbying regulators. Both Paramount and Netflix have signaled willingness to raise bids, and shareholders have pressured engagement.
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