Warner Bros Gets Higher Offer From Paramount

NEW YORK (AP) — Warner Bros. Discovery said that Paramount has raised the price of its takeover offer to $31 per share, potentially setting the stage for a fresh bidding war with Netflix over the future of the Hollywood giant. The company previously offered $30 per share when it first went directly to Warner stakeholders with its all-cash, hostile bid in December — just days after Warner struck a deal to sell its studio and streaming business to Netflix for $27.75 per share. Beyond upping its proposed purchase price, Warner said Paramount had increased its regulatory termination fee to $7 billion. Paramount also agreed to move up a previously-promised “ticking fee” payable to shareholders.