Streaming service Netflix possesses substantial financial resources to boost its current bid for Warner Bros Discovery should competing bidder Paramount Skydance decide to raise its own proposal, according to two individuals familiar with the situation.
The entertainment industry titans have engaged in an intense competition for Warner Bros and its legendary content library, featuring beloved properties such as the Harry Potter series, Game of Thrones, DC Comics universe, and Superman.
While Warner Bros plans to proceed with a shareholder vote on March 20 regarding Netflix’s current proposal, the company has provided Paramount with one week to present a superior offer.
Netflix’s current proposal stands at $27.75 per share, totaling $82.7 billion, targeting Warner Bros’ film studio and streaming operations. Meanwhile, Paramount has put forward a $108.4 billion offer for the entire corporation, encompassing Discovery Global which operates CNN, HGTV, and additional television properties.
Both Netflix and Warner Bros representatives chose not to provide statements regarding the ongoing negotiations.
