Warner Bros. Reopens Deal Talks After Paramount Raises Bid [Yahoo! Finance Canada]
Netflix, Inc. (NFLX)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Warner Bros. said the board still unanimously recommends shareholders vote in favor of its binding agreement to sell its namesake studios and HBO Max streaming business to Netflix for $27.75 a share. It has scheduled a shareholder vote on the Netflix deal for March 20. “Throughout the entire process, our sole focus has been on maximizing value and certainty for WBD shareholders,” Warner Bros. Chief Executive Officer David Zaslav said in the statement. Warner Bros. shares rose 2.5% in premarket trading in New York. Paramount was up about 4% while Netflix gained less than 1%. The decision to reengage with Paramount, which confirms Bloomberg's reporting Sunday, comes after the hostile suitor submitted an offer with amended terms on Feb. 10 that addressed several of the Warner Bros. board's key concerns. Under the terms of the waiver granted by Netflix, Warner Bros. can engage with Paramount until Feb. 23. It has asked Paramount for its best and final p
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