🟢 PSKY is trading 5.6% up today after WBD board deems its $31/share bid a superior proposal

PSKY is trading at $11.81 (+5.6%) in after-hours trading after Warner Bros. Discovery’s board determined that the company’s revised $31/share all-cash bid is a superior proposal over a competing offer from Netflix.

• The M&A development overshadowed mixed Q4 results where the company reported an adjusted loss of $0.12/share, which was wider than analyst expectations.
• While revenue of $8.15B was in line with consensus, the stock reversed earlier declines caused by weak TV media performance and Q1 guidance that fell slightly below estimates.