The race for the acquisition of Warner Bros. Discovery continues. The company is reviewing a revised offer from Paramount Global and Skydance Media for the takeover of the company.

Warner Bros. Discovery (WBD) has announced that it has received a revised and higher offer of $108.4 billion from Paramount Global and Skydance Media for the acquisition of the company.

This offer will be evaluated according to the terms of the already signed agreement with Netflix, which provides for the acquisition of WBD's studio and streaming operations. Paramount has confirmed the offer and will continue its hostile takeover bid directed at WBD shareholders, while Netflix has four days to improve its initial proposal of $27.75 per share. If WBD considers Paramount's offer superior, Netflix will receive a termination fee of $2.8 billion, which Paramount has committed to cover.

A merger between Paramount and WBD would create a powerful conglomerate, bringing together the HBO Max and Paramount+ platforms, as well as the Warner Bros. and Paramount Skydance Studios. Both transactions require regulatory approvals in the U.S. and Europe, raising concerns about competition.