What’s the Magic Number Paramount Needs to Snag Warner Bros. From Netflix?

Paramount CEO David Ellison has finally signaled that he’s willing to budge on his $30-per-share offer, but will he make a big enough splash to get a deal done with Warner Bros. Discovery?

As a new but shrinking window of opportunity opens for Ellison, the key question is how high he’s truly willing to go in order to impress the Warner board and convince Netflix that the legendary studio isn’t worth the pushback from lawmakers and Hollywood creatives, regulatory scrutiny and a declining stock price.

On Tuesday, Paramount said it’s “prepared to engage in good faith and constructive discussions” after weeks of hostility between the two companies.