Warner Bros. Says Paramount’s New Offer May Top Netflix

Warner Bros. Discovery acknowledged Paramount Skydance’s $31-per-share bid as a potential superior offer to Netflix’s existing $27.75-per-share deal for its studio and HBO assets, signaling a new bidding phase. The company hasn’t withdrawn its Netflix recommendation but confirmed Paramount’s terms warrant further negotiations, leaving the door open for counteroffers. The move intensifies competition among media giants for Warner Bros.’ content library, with Paramount’s higher valuation pressuring Netflix to respond. Analyst Robert Fishman noted the bid reflects broader industry consolidation trends as streaming platforms vie for premium content and market dominance. The announcement precedes Paramount’s earnings report, adding urgency to negotiations amid investor scrutiny over valuation and strategic fit.