Warner Bros. Discovery (WBD) fell 2.5% at least partly amid a report that Paramount Skydance’s (PSKY) latest offer is expected to be in the same range as its prior bid of $23.50 a share.
The WSJ report, which cites people familiar with the matter, comes after a Variety item on Tuesday claimed that Paramount was going to bid over $28 a share for Warner Bros. That report was denied by Paramount Skydance, who called it “categorically inaccurate.”
Netflix (NFLX), Comcast (CMCSA), and Paramount (PARA) are all expected to put in bids for Warner Bros. (WBD) by a Thursday deadline for first-round offers, with Paramount the only firm offering to buy the entire company, according to media reports.
Axios reported on Tuesday that the Warner Bros. Discovery (WBD) board wants Paramount Skydance (PSKY) to raise its offer to around $30 a share.