Warner Bros. Discovery (WBD.US) issued a statement on Thursday, stating that the new acquisition proposal from Paramount (PSKY.US) is more favorable to shareholders than the previous agreement reached with Netflix (NFLX.US). Netflix is having four business days to submit a new offer to outbid its competitor.

Earlier this week, Paramount had raised its acquisition offer from USD30 per share to USD31 per share, intending to acquire all assets of Warner Bros. Discovery.

Last December, Netflix had agreed to acquire Warner Bros. Discovery's studio and streaming media assets at USD27.75 per share, with the assets valued at approximately USD72 billion and the enterprise value at approximately USD82.7 billion.
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