Netflix Could Hike Offer For WBD If Rival Bidder Paramount Does: Report

Netflix (NFLX) could reportedly hike its offer for Warner Bros. Discovery (WBD) if Paramount Skydance (PSKY) raises the stakes on its own offer.

Reuters on Thursday reported, citing people familiar with the matter, that Netflix has ample cash and could hike its offer if Paramount ups its own. The two companies have been engaged in a bitter competition to acquire Warner Bros.

Netflix entered into a deal to acquire Warner Bros Discovery’s studio and streaming businesses in December and Paramount put forth a rival bid days later, offering to acquire the whole company, including its channel business.

Shares of NFLX and PSKY traded 1% and 3% lower, respectively, at the time of writing. 

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