Warner Bros. to reject Paramount bid next week, Bloomberg says

Warner Bros. Discovery (WBD) plans to reject a revised takeover bid from Paramount Skydance (PSKY), people familiar with the matter told Bloomberg’s Lucas Shaw, echoing earlier reporting from CNBC’s David Faber. The Warner Bros. board hasn’t made a final determination, but will meet next week, according to Bloomberg’s report. Among the board’s concerns is that Paramount Skydance has not yet updated its offer, which Warner Bros. previously dismissed as inferior tot one from Netflix (NFLX), the author notes.