Warner Bros Discovery rejected the $30 per share takeover offer from Paramount Skydance, providing a seven-day deadline for a better offer.

The Warner Bros Discovery Council recently rejected the hostile takeover bid of 30 dollars per share from Paramount Skydance, but granted the studio seven days to present a more competitive offer. Paramount suggested a higher price of 31 dollars per share, but Warner Bros emphasized that it prefers a merger with Netflix, considering that the terms of the agreement allow Netflix to match any offer.

Warner Bros stated that it does not believe Paramount's offer has a high chance of success. Currently, Paramount is offering 108.4 billion dollars for the entire company, while Netflix has proposed 27.75 dollars per share, totaling 82.7 billion dollars for studios and streaming. Warner Bros shareholders will vote on March 20 on the merger with Netflix, while the company prepares to separate from Discovery Global's cable operations.