Paramount Skydance Cl B

Netflix stock gained 1.2% as investors await the company's response to Paramount's competing bid for Warner Bros Discovery assets before Monday's deadline.

Warner Bros. Discovery shares declined 1% Friday, closing at $27.14, as California's attorney general launched an investigation into Paramount's $31-per-share acquisition offer, adding to existing regulatory and financing concerns.

California's attorney general has opened an antitrust investigation into Paramount's planned $110 billion acquisition of Warner Bros. Discovery, casting doubt on the merger's timeline and approval.

Netflix has withdrawn from acquisition discussions with Warner Bros. Discovery, with co-CEO Ted Sarandos stating a firm price ceiling of $27.75 per share. This development comes as Paramount Skydance's competing $31.00 all-cash offer undergoes regulatory review.

Netflix has withdrawn from acquisition discussions with Warner Bros. Discovery due to price disagreements, while Paramount's competing $31 per share offer faces regulatory examination from California authorities.

Warner Bros. Discovery shares finished Friday at $28.17, representing a 9% discount to Paramount's $31-per-share acquisition offer. California's attorney general has opened an investigation into the proposed merger.

Netflix shares closed at $76.87, up 1.3%, ahead of a holiday-shortened week. Renewed discussions between Warner Bros Discovery and Paramount introduce potential complications for Netflix's deal.

Paramount has enhanced its $30-per-share offer for Warner Bros. Discovery by adding a ticking fee and agreeing to cover costs if WBD exits its Netflix deal. WBD's board continues to support the Netflix agreement while reviewing the new terms.

Netflix stock climbed over 3% after Paramount sweetened its offer for Warner Bros. Discovery, including covering a $2.8 billion breakup fee tied to Netflix's existing deal.