Paramount Raises Bid to Buy Warner Brothers Discovery, Potentially Topping Netflix's Offer

Paramount has upped its offer to buy Warner Brothers Discovery, raising the price from $30 to $31 per share in a bid that could beat out Netflix.

The increased offer values Warner Brothers Discovery at $77 billion. Paramount is also offering a $7 billion reverse termination fee if regulators block the deal, along with covering costs to cancel Warner Brothers' existing agreement with Netflix.

Warner Brothers Discovery's board said it hasn't made a final decision yet. If the board opts for Paramount's bid, Netflix would have four business days to counter with a higher offer.

The board votes March 20th.