WBD deems Paramount bid superior to Netflix's

 Warner Bros. Discovery Inc. said on Thursday that its Board of Directors determined that the latest Paramount Skydance Corporation's takeover bid constitutes a "Company Superior Proposal" when compared to Netflix Inc.'s offer.

The company added that it had notified Netflix of its stance, giving it four business days to make changes to its own merger proposal. "Following the conclusion of this period, if the Board determines in good faith, after consultation with its independent financial and legal advisors, that, after considering any revisions to the terms of the Netflix merger agreement proposed by Netflix, the PSKY proposal continues to constitute a 'Company Superior Proposal,' WBD would be entitled to terminate the Netflix merger agreement," the media and entertainment giant said in a statement.

However, WBD noted that the merger agreement with Netflix remains in effect, claiming that its Board of Directors "continues to recommend in favor of the Netflix transaction and has not withdrawn or modified its recommendation."

https://breakingthenews.net/Article/WBD-deems-Paramount-bid-superior-to-Netflix's/65758023