Jenny Kosilda

Warner Brothers Discovery says it will reopen merger talks with Paramount Skydance.

Paramount wants to buy all of the business, including the cable unit, which includes CNN and TNT.

Warner says Paramount is willing to boost its offer from $30 a share to $31 if Warner reopens talks.

Netflix already has a deal to buy most of the business, Warner's movie and TV studios and HBO Max, but not the cable channels.

Netflix said in a statement that it believes its offer remains superior, but granted Warner a seven-day waiver to fully and finally resolve this matter.

Netflix has the right to match any offer Warner accepts from another bidder.

Jenny Kosilda, Fox News.