- Paramount Skydance’s (PSKY) $31 cash offer for Warner Bros. Discovery (WBD) was deemed “superior” by Warner Bros. (WBD) triggering a four-day period in which Netflix can revise their offer.
- According to CNBC, the Warner Bros. (WBD) board still favors the Netflix (NFLX) offer.
- The news lifted shares of all parties, although gains for Paramount Skydance (PSKY) and Netflix (NFLX) were short-lived.