WBD stock sits below Paramount’s $31 bid — what investors watch before Monday
Warner Bros. Discovery shares closed down 2.2% at $28.17, nearly 9% below Paramount Skydance’s $31-a-share cash offer. Netflix said it would not raise its bid, and Paramount agreed to cover a $2.8 billion breakup fee owed to Netflix. California’s attorney general opened a review. Raymond James downgraded WBD to Underperform, citing reduced chances of a higher bid.