Paramount Skydance extended its deadline to acquire Warner Bros. Discovery, offering $30 per share. Netflix countered with a $27.75 per share all-cash offer. Warner Bros. Discovery urged shareholders to reject Paramount’s bid, citing a superior deal with Netflix. Netflix stock declined 32%, while Paramount’s fell 9%.

Warner Bros. led Oscar nominations with 30 nods, Netflix received 18. Paramount’s extended deadline may signal a higher bid. Analysts predict ongoing drama with potential new developments. President Trump praised Netflix, highlighting market impact. Investors await further updates leading up to Feb. 20 deadline.

Read more at finance.yahoo.com: Paramount extends deadline for Warner Bros. offer, which company calls ‘inferior scheme’ amid Netflix deal