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00:02Warner Brothers Discovery said Paramount Skydance submitted a revised $31 per share buyout proposal
00:08that could lead to a better deal than its existing agreement with Netflix, according to Bloomberg.
00:13Warner Brothers isn't withdrawing its recommendation that investors support
00:17Netflix's $27.75, a share agreement to buy the company's studio and HBO operations.
00:24Instead, it's saying the latest Paramount terms meet the threshold for further talks.
00:28Netflix will have four business days to respond if the board backs the revised bid.
00:33Paramount's proposal is valued at about $108 billion, including debt,
00:38compared with $82.7 billion for Netflix's deal.
00:42Warner Brothers shares fell less than 1% in extended trading,
00:45while Paramount rose more than 1%, and Netflix gained about 0.5%.
00:51For all things money, visit Benzinga.com.
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