Warner Bros gets higher offer from Paramount in heated fight for the storied Hollywood studio

NEW YORK: Warner Bros. Discovery said that Paramount has raised the price of its takeover offer to $31 per share, potentially setting the stage for a fresh bidding war with Netflix over the future of the Hollywood giant.

Paramount’s offer had previously stood at $30 per share since December — when the Skydance owned company launched its hostile bid to challenge a deal Warner struck with Netflix to sell its studio and streaming business for $27.75 per share.