Paramount Skydance Corporation has provided an update regarding its $30 per share all-cash offer to acquire all outstanding Series A common stock of Warner Bros. Discovery, Inc. According to Paramount, Warner Bros. Discovery, in conjunction with Netflix, has granted Paramount a 7-day waiver to negotiate, rather than making a customary determination under the existing Netflix merger agreement that could have permitted unrestricted negotiations. This decision allows a limited negotiation period for Paramount’s proposal. The announcement was made by Paramount Skydance Corporation.

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