Warner Bros. Discovery Declares New Paramount Bid a ‘Superior Proposal’; Netflix Has Four Business Days to Match

The board of Warner Bros. Discovery said Thursday it has determined that the latest offer from Paramount Skydance is a “superior proposal” to its existing merger pact with Netflix. The move sets off a four-day clock for Netflix to make a counteroffer to the nearly $83 billion deal that it reached with Wbd in early December.

Netflix has four business days, or Wednesday, March 4 at 11:59 p.m. Et, to come up with a new proposal to salvage the deal.

In a statement Thursday, Wbd said, “Following the conclusion of this period, if the Board determines in good faith, after consultation…