Warner Bros rejects latest Paramount bid but open to ‘best and final’ offer
Al Jazeera
The Warner Bros Discovery board says it remains committed to the Netflix deal, despite considering possible bids for Paramount.
Warner Bros Discovery, home to major franchises such as Game of Thrones, Harry Potter and DC Comics’ superheroes Batman and Superman, has rejected Paramount Skydance’s latest offer to buy the company amid a looming deal with the streaming giant Netflix.
On Tuesday, Warner Bros rejected Paramount’s $30 per share bid, but has remained open to additional offers, giving the parent company of CBS News seven days to come up with its “best and final offer”.
“Our Board has not determined that your proposal is reasonably likely to result in a transaction that is superior to the Netflix merger,” Warner Bros chairman Samuel DiPiazza Jr and CEO David Zaslav said in a letter sent to the Paramount board on Tuesday.
Paramount is expected to offer a possible higher price of $31 per share, according to the letter.
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