Discovery said that Paramount has raised the price of its takeover offer to $31 per share, potentially setting the stage for a fresh bidding war with Netflix over the future of the Hollywood giant. Warner added that Paramount's latest bid "could reasonably be expected to lead to" a superior offer as defined under its current agreement with Netflix — but the company's board has still not actually determined whether Paramount's offer is better than Netflix's. And the push to acquire Warner arrives just months after Skydance closed its own buyout of Paramount — in a contentious merger approved just weeks after the company agreed to pay the president $16 million to settle a lawsuit over editing at Paramount's "60 Minutes" program on CBS.
Author: Wyatte Grantham-Philips, Associated Press
Published at: 2026-02-24 23:38:07
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