Paramount Skydance's Higher Bid for Warner Bros. Has Netflix Shareholders Cheering. Here's Why.

Netflix's (NASDAQ: NFLX) ongoing attempt to acquire the studio and streaming assets from Warner Bros. Discovery (NASDAQ: WBD) hit a new wrinkle on Wednesday. Suitor Paramount Skydance (NASDAQ: PSKY) increased its hostile takeover bid to $31 per share yesterday. After an initial review of the deal, Warner Bros. said its board of directors "could reasonably be expected" to view the deal as "superior" to the deal on the table from Netflix. Wall Street and Hollywood are both waiting for Warner Bros. to issue a ...