Warner Bros Discovery is considering a new takeover proposal from Paramount Skydance Corp, the latest salvo in a months-long battle for control of one of Hollywood’s most famed studios.
The parent of HBO and CNN said its board will review the proposal and respond, according to a statement on Tuesday.
Warner Bros didn’t specify the terms of the new offer, but Bloomberg News reported on Monday that it was higher than the $30 a share Paramount was offering previously.
If the Warner Bros board deems the new Paramount offer superior to the one it has already accepted from Netflix, then Netflix will have four days to make a counteroffer, according to the terms of their merger agreement.
In the meantime, Warner Bros told investors Tuesday that it still has a deal with Netflix and stockholders shouldn’t tender their shares to Paramount.
“The Netflix merger agreement remains in effect, and the
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