Paramount Is Expected to Raise Price of Warner Bros. Discovery Bid. Will Netflix Walk Away?

David Ellison’s Paramount Skydance has a Monday deadline to submit its best and final offer for Warner Bros. Discovery — and Paramount is expected to come back with an offer above its previous $30/share bid for Wbd, angling to outflank Netflix to win the deal.

The board of Warner Bros. Discovery, with the permission of Netflix, opened a seven-day window to talk with Paramount about an improved offer. That discussion period ends at 11:59 p.m. Et on Feb. 23, coming after teams from both companies worked over the weekend.

Paramount has declined to comment on its next move. Insiders tell…