Warner Bros. Discovery says Paramount makes higher bid, board will weigh offer against Netflix deal

Core Viewpoint - Warner Bros. Discovery (WBD) is reviewing a higher takeover offer from Paramount Skydance while maintaining its existing agreement with Netflix [1][2][3] Group 1: Takeover Offer - Paramount Skydance has submitted a revised proposal to acquire WBD, which is currently under review by WBD with the assistance of financial and legal advisors [3] - WBD had previously announced plans to re-engage in deal talks with Paramount under a seven-day waiver from Netflix [2] Group 2: Existing Agreements - WBD has an agreement with Netflix to sell its legacy media group's studio and streaming businesses, which remains in effect despite the new proposal from Paramount [2][3] - The WBD Board continues to recommend the Netflix transaction to shareholders, advising them not to take any action regarding the amended Paramount Skydance tender offer at this time [3]