Ed Ludlow

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Part of this is that the seven-day waiver also gives Warner Bros.

Discovery and Paramount time to talk about the issues that the boards had with the Paramount bid, which were wide-ranging.

The valuation, right, remember, Paramount proposes to buy all of Warner Bros.

Discovery, including legacy network and cable, whereas Netflix would only buy the studios and the streaming business, spinning off the legacy networks into a standalone company.

And that dollar, basically, Paramount had, to the market's mind, undervalued the legacy networks.

That's Bloomberg's Ed Ludlow.

Part of this is that the seven-day waiver also gives Warner Brothers Discovery and Paramount time to talk about the issues that the boards had with the Paramount bid, which were wide-ranging.

The valuation, right, remember, Paramount proposes to buy all of Warner Brothers Discovery, including legacy network and cable, whereas Netflix would only buy the studios and the streaming business, spinning off the legacy networks into a standalone company.

And that dollar, basically, you know, Paramount had, to the market's mind, undervalued the legacy networks and given them an essential valuation of like near zero, which people either agree or disagree with.

So that will be a part of it, along with, you know, there is still in the background the specter of antitrust on both.

But, you know, Netflix, again, this morning issuing its own statement saying that, you know, they feel very confident in their existing bid.