Last week, Netflix gave Warner Bros. Discovery a seven-day window to reopen talks with Paramount for a potential buyout. Netflix already has a deal in place to purchase WBD, but it appears that Paramount will dramatically increase its offer.
According to Variety, Paramount’s deadline to submit its final bid for Warner Bros. will occur at tonight at 11:59 PM ET. It’s expected that Paramount’s bid will come in around $32 per share of WBD stock, although at least one analyst believes it could go as high as $34 per share.
If that happens, Netflix has the right to match or exceed any offer made by Paramount. The question is whether Netflix wants to get in a protracted bidding war for WBD or if it’s willing to walk away. If talks between WBD and Netflix collapse, the former will be on the line for a $2.8 billion breakup fee. However, Paramount has offered to cover that cost if its negotiations with WBD pan out.
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