Warner Bros. gives Paramount one week to outbid Netflix

The seven days of discussions, scheduled to end February 23, are designed to give Paramount Skydance a chance to make its "best and final offer," Warner Bros. Discovery said in a statement that stressed it prefers the Netflix merger and has scheduled a special shareholders meeting to vote on it on March 20. Television and film titan Warner Bros. Discovery, which owns CNN, announced in late October that it was open to acquisition offers. Its board subsequently accepted a bid from Netflix to buy only its streaming and studio business.