Warner Bros Discovery has rebuffed Paramount Skydance‘s preliminary takeover method as too low, Bloomberg Information reported on Saturday.
Warner Bros rejected Paramount’s provide of round $20 per share in latest weeks, the report stated, citing folks aware of the matter.
Warner Bros and Paramount didn’t instantly reply to a Reuters request for remark.
Paramount, led by David Ellison, is exploring a number of paths in its bid for Warner Bros., together with growing its provide, interesting on to shareholders, or securing further help from a monetary associate, Bloomberg report added, citing sources.
Paramount has been in talks with various asset supervisor Apollo World Administration about backing its bid, Bloomberg reported earlier this week.
Ellison, took over Paramount in August after finishing an $8 billion merger along with his movie manufacturing firm Skydance Media.
