Warner Bros Discovery Board Calls Paramount’s Proposal “Superior”, Gives Netflix Four Days To Up Its Bid

Warner Bros. Discovery’s board of directors is opening the door to a bidding war between Paramount and Netflix.

The board has officially labeled Paramount’s latest $31-per-share offer a “company superior proposal.” While that does not mean that the board has withdrawn its recommendation of the pending Netflix offer to shareholders, it triggers a four-day period when Netflix can respond.

Netflix’s $82.7 offer is for the studios-and-streaming division of WBD, while Paramount’s bid is for the entire company.

MORE to come …