Paramount Skydance (PSKY) faces a February 23 deadline to submit its final acquisition offer for Warner Bros. Discovery (WBD). The WBD board granted PSKY a seven-day revision window on February 17.
PSKY currently maintains a $108.4 billion hostile bid for the media company. The industry is monitoring whether the firm will increase this valuation to address specific board concerns.
The WBD board continues to officially recommend a competing $83 billion merger with Netflix. Shareholders will vote on the Netflix proposal on March 20.
No new announcements were issued on February 20 as the market awaits the revised submission.