Paramount bid tops Netflix-WBD deal as Netflix declines to counter

Paramount's higher offer for Warner Bros. Discovery has been deemed superior by WBD, prompting Netflix to decline raising its own bid and leaving Netflix with four business days to submit a counterproposal. Paramount’s bid values WBD at $31 per share and includes a $7 billion regulatory termination fee; Netflix’s stock jumped on the news as investors weighed the potential implications for CNN and the broader deal dynamics.