Warner Bros Reopens Door to Paramount, Netflix Deal in Doubt Amid Bidding War

• Warner Bros Discovery reopens talks with Paramount after a raised offer of $31 per share, putting Netflix's bid at risk.
• Paramount's revised offer includes a higher termination fee ($7 billion) and quarterly payments to Warner shareholders if the deal is delayed.
• Netflix's bid of $27.75 per share is for specific assets (movie/TV studios, catalog, HBO Max), while Paramount seeks the whole company.
• Warner's board has not yet deemed Paramount's proposal superior but will engage further; Netflix has four days to revise its offer if a superior deal emerges.
• The bidding war is complicated by different asset targets and potential shareholder lawsuits, with both suitors' market caps falling.