WBD says Paramount’s new, higher offer could be “superior” to Netflix's

Paramount Skydance increased its bid for Warner Bros. Discovery (WBD) from $30 per share to $31 per share, WBD said today. Amid a competing offer from Netflix for WBD’s movie studios and streaming businesses, WBD said that Paramount’s new bid “could reasonably be expected to lead to a ‘Company Superior Proposal.’”

Under its revamped offer, Paramount would also pay the $7 billion regulatory termination fee that would arise should a Paramount-WBD merger fail to close due to antitrust regulation.