Overview
- Warner Bros. Discovery said on Feb. 26 that Paramount Skydance’s revised proposal constitutes the superior offer.
- The revision raises the cash consideration to $31 per WBD share from $30, surpassing Netflix’s agreed $27.75 per share.
- Netflix announced it would not increase its bid and withdrew from the acquisition contest.
- Several U.S. outlets reported Paramount as the winner, though a formal decision by WBD’s board has not been announced.
- Attention now shifts to the WBD board’s review of the Paramount proposal and its forthcoming determination.