Hollywood Showdown: Paramount's Last Bid to Outshine Netflix for Warner Bros

Warner Bros Discovery is considering a new offer from Paramount Skydance to acquire the studio, surpassing Netflix's existing bid. The new offer exceeds Paramount's previous $30 per share proposal. As bidding intensifies, the deal's outcome could reshape Hollywood's power structure with esteemed franchises like 'Harry Potter' at stake.

Warner Bros Discovery announced on Tuesday it's evaluating a fresh proposal from Paramount Skydance, amidst efforts to thwart Netflix from acquiring the Hollywood studio. The bid surpasses Paramount's earlier $30 per share offer, and if Warner Bros deems it superior, Netflix will have four days to respond.

The ongoing negotiations follow a week of talks addressing Warner Bros' concerns that led to Paramount's initial rejections. Though Warner Bros continues to favor its deal with Netflix at $27.75 per share, the new Paramount offer is gaining traction.

Paramount, under CEO David Ellison, has assured regulatory ease due to its ties with the Trump administration. Activist investors argue Warner Bros needs to reengage with Paramount to avoid an inferior deal. The decision is set for a shareholder vote on March 20.

(With inputs from agencies.)