Warner Bros. May Reopen Paramount Talks Amid Netflix Bidding War

• Warner Bros. Discovery is considering reopening sale discussions with Paramount Skydance after a revised offer.
• Paramount's new proposal includes covering a $2.8 billion break fee to Netflix and backstopping Warner Bros.' debt refinancing.
• The board is debating if Paramount's offer is superior or could prompt Netflix to raise its bid.
• Warner Bros. has an existing agreement to sell to Netflix at $27.75 per share, but faces shareholder pressure to engage with Paramount.
• Both Paramount and Netflix have indicated willingness to increase their bids, but remain cautious about overpaying.