Caroline Hyde

The Warner Brothers board said that Paramount Skydance's new $31 per share offer may be a better deal than its existing agreement with Netflix, but regulatory hurdles for both bids remain.

Paramount is seen by some to have the upper hand.

because of the family's ties to President Trump.

Last night, at the State of the Union address, Paramount CEO David Ellison was a guest of Trump ally South Carolina Senator Lindsey Graham.

And I guess carry up 5% on Netflix, because remember, quite a large portion of the investor base think that Netflix at this juncture should walk away.

And they get a nice bit of money if they do, potentially, being financed by that, Mr. Ellison.

Let's move away from the politics of it all, but get into the real details of the offer.

Bloomberg Media reporter Hannah Miller is with us.

The saga continues.

And the May is a question mark here.

Basically, $31 is good enough to reopen those negotiations that got so intense that at midnight they were being forced to put down the phone.

Yeah, and just to be clear, the Warner Brothers board has not called this new offer superior.

If they do end up backing the offer, then Netflix has four days to respond.

We are in a slightly unusual situation where both Warner Brothers Discovery and Paramount Skydance will report earnings.

And I guess we'll kind of learn how it's going for both.

You know, Paramount of particular interest, Sunday and Night of the Seven Kingdoms, that's what I was doing on my couch.

It's one example of where, like, it's going well, maybe.

What do we expect to hear about the health of the business pre any merger?

Yeah, I mean, for Paramount, which we'll hear about their earnings later today, we're expecting a strong finish for 2025.

We're also looking to hear more about their box office plans.