Warner Bros. Discovery Likely to Take New Paramount Skydance Offer Under Review While Still Recommending Netflix Pact to Shareholders

Warner Bros. Discovery and Paramount Skydance leaders spent a busy week in negotiations, and now the Wbd board is likely to tell shareholders before the market opens on Tuesday that it is taking the bid under review while still recommending the Netflix transaction that is up for a vote on March 20.

Representatives for Wbd and Paramount Skydance declined to comment late Monday. The financial terms of the new offer were not immediately clear.

Monday wrapped a busy seven-day period in which the Wbd board sought Netflix’s blessing to engage in discussions with Paramount to “seek clarity” on its “best and final offer.