Warner Brothers said that Paramount's new offer of $31 per share may be better than Netflix's proposal.

Warner Bros. has confirmed that Paramount Skydance has put forward a new acquisition offer of $31 per share, which may be more favorable than their existing agreement with Netflix, potentially triggering a new round of bidding for the renowned Hollywood film company. The statement on Tuesday revealed that Warner Bros. has not withdrawn its recommendation for investors to support Netflix's agreement to acquire its film production business and HBO business for $27.75 per share. However, the company stated that the latest terms proposed by Paramount have reached a threshold for further negotiations. Paramount's latest offensive indicates that the company led by David Ellison will not give up chasing Warner Bros. in the short term. The increased offer will test whether Netflix is willing to pay a higher price for Warner's film production business and content library, which includes the DC Comics series and "Game of Thrones". Warner Bros. stated that the board has not yet decided whether the revised Paramount proposal is superior to the merger proposal with Netflix. The company plans to have more discussions with Paramount and stated that if the board supports this increased offer, Netflix will have four working days to respond.