Warner Bros. Discovery gives Paramount one week to present its ‘best and final’ offer

After rejecting Paramount's latest acquisition bid, Warner Bros. Discovery says it's giving the David Ellison-led entertainment giant seven days to make its "best and final" proposal. Though WBD is reopening negotiations with Paramount, the company makes it clear in a press release that it still favors Netflix's $82.7 billion deal to purchase its studio and streaming service.

As noted in the press release, a Paramount representative told WBD that it would agree to pay $31 per share if WBD reopens negotiations...