Warner Bros. Discovery (WBD) announced it has received a higher takeover bid from Paramount Skydance.
Last week, WBD stated it would re-engage in deal discussions with Paramount under a seven-day waiver from Netflix.
The WBD board is set to review the new bid as per its existing agreement with Netflix. Should WBD find the Paramount offer superior, Netflix will have four days to better its previously agreed-upon bid.
Both the Netflix-WBD deal and any potential merger between Paramount and WBD would require approval from U.S. and European regulators.
