Warner Bros. board deems Paramount’s $31-per-share offer a superior deal, starting four-day countdown for Netflix response
The Warner Bros. Discovery board has determined that Paramount’s latest deal constitutes a superior proposal to the $83 billion agreement it has with Netflix.
The Netflix merger remains in effect, but the determination kicks off a four-business-day window for the streamer to amend its deal to match or beat Paramount’s.
Should Netflix decide to not raise its own offer to a degree the Warner Bros. board determines to be the “Company Superior Proposal,” Warner Bros. would be entitled to terminate that merger agreement.
Netflix is said to have ample cash to increase its own offer for Warner Bros., but it’s yet to be seen how high the company is willing to go. Netflix shares have increased since Paramount boosted its bid, signaling that its own investors aren’t exactly rooting for it to make the purchase.
Warner Bros.’ announcement boosted Paramount’s odds on prediction markets to end up in control of the company. As of 4:40 p.m. ET on Thursday, event contracts speculating on which company will ultimately come out on top of the bidding war have Paramount at a 62% chance over Netflix’s 33% odds.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
Should Netflix decide to not raise its own offer to a degree the Warner Bros. board determines to be the “Company Superior Proposal,” Warner Bros. would be entitled to terminate that merger agreement.
Netflix is said to have ample cash to increase its own offer for Warner Bros., but it’s yet to be seen how high the company is willing to go. Netflix shares have increased since Paramount boosted its bid, signaling that its own investors aren’t exactly rooting for it to make the purchase.
Warner Bros.’ announcement boosted Paramount’s odds on prediction markets to end up in control of the company. As of 4:40 p.m. ET on Thursday, event contracts speculating on which company will ultimately come out on top of the bidding war have Paramount at a 62% chance over Netflix’s 33% odds.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
