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00:02Paramount Skydance increased its bid for Warner Bros. Discovery, raising its offer above
00:07the prior $108.4 billion, or $30 per share, proposal, according to Reuters.
00:13The revised bid aims to address concerns about financing certainty.
00:18Warner Bros. earlier said Paramount had unofficially offered $31 per share.
00:22Paramount and Warner Bros. did not immediately respond to Benzinga's request for comments.
00:27Variety reported that Warner Bros. is likely to consider Paramount's offer while still
00:32recommending its agreement with Netflix to shareholders.
00:35Earlier this month, Warner Bros. rejected Paramount's hostile bid and set a February 23 deadline
00:41for a best and final offer, which Netflix can match under the merger terms.
00:45Analyst Gary Black said Netflix would likely win and noted the company as cash to raise its bid.
00:50For all things money, visit Benzinga.com.
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