High-Stakes Battle for Hollywood's Crown Jewel: Warner Bros Faces Bidding War

Warner Bros Discovery is weighing a new offer from Paramount Skydance, aiming to outbid Netflix for the studio. The bid surpasses Paramount's previous offer and challenges Netflix's acclaimed $82.7 billion deal. A decision could alter Hollywood's power structure, involving franchises like 'Game of Thrones' and 'Harry Potter'.

In a dramatic twist for Hollywood, Warner Bros Discovery has revealed potential interest in a fresh proposal from Paramount Skydance. The offer aims to usurp Netflix's bid for the famed studio, a move that could recalibrate the entertainment industry's hierarchy.

According to insiders, the latest bid exceeds Paramount's initial offer of $30 per share, placing the value above the previous $108.4 billion, including debt. Negotiations over the past week have attempted to resolve Warner Bros' concerns that led them to lean towards Netflix's offer.

Warner Bros stated their board still endorses the Netflix deal. However, if the newer Paramount proposal proves superior, Netflix will have a limited window to counter. As both media giants vie for this coveted acquisition, Hollywood's landscape stands on the brink of transformation.

(With inputs from agencies.)