Paramount Skydance Ups Bid for Warner Bros Discovery, Intensifying Battle with Netflix

• Paramount Skydance increased its takeover bid for Warner Bros Discovery, escalating competition with preferred bidder Netflix.
• The revised offer, exceeding the earlier $30-a-share proposal, came after a deadline set by the Warner Bros Discovery board.
• Paramount's updated bid improves on its $108.4 billion offer, while Netflix's current offer values Warner Bros at $82.7 billion.
• A key point of contention is Warner Bros' plan to spin off cable TV assets like CNN and HGTV into Discovery Global, which Paramount challenges.
• The deal faces regulatory scrutiny in the U.S. and Europe, with both Paramount and Netflix arguing their offers present fewer risks or benefits.