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

NEW YORK — Warner Bros. Discovery says it's reviewing a new takeover offer from Paramount, but it continues to recommend a competing proposal from Netflix to its shareholders in the meantime. Warner disclosed Tuesday that it had received a revised offer from Paramount after a seven-day window to renew talks with the Skydance-owned company elapsed Monday. Paramount confirmed it had submitted this proposal, but neither provided further details on the bid. The company was widely expected to have raised its offer. A Warner Bros. Discovery buyout would reshape Hollywood and the wider media landscape — bringing HBO Max, cult-favorite titles like “Harry Potter” and, depending on who wins the Netflix v. Paramount tug-a-war, potentially even CNN under a new roof. Paramount wants to acquire Warner Bros. in its entirety — including networks like CNN and Discovery — and went straight to shareholders with an all-cash, $77.9 billion hostile offer just days after the Netflix deal was announced in December. Accounting for debt, that bid offered Warner stakeholders $30 per share, amounting t