Warner Bros. board members are weighing whether Paramount's sweetened bid may result in a better deal or prompt Netflix to up its offer, Bloomberg reports.

Both Netflix and Paramount covet Warner Bros for its leading film and television studios, extensive content library and major franchises.

A veteran EVP of agency partnerships at Paramount will leave David Ellison's company amid a leadership shake-up.

Paramount has sweetened its offer for Warner Bros. Discovery, adding a so-called ticking fee to signal regulatory confidence among other new elements.

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