Warner Bros set to resume talks with Paramount

The US entertainment giant, which is the subject of a tug-of-war between Paramount and Netflix to take over its businesses, could resume discussions with rival Paramount Skydance after receiving a better takeover offer from the latter a few days ago, Bloomberg reported.

In pre-market trading, Paramount shares are up nearly 3%, while Warner Bros is down around 1.2% and Netflix slips 0.6%.

Paramount is said to be offering to assume the $2.8bn that Warner Bros would have to pay Netflix if their agreement were terminated. The US group  also reportedly said that it would compensate Warner Bros shareholders if the deal is not completed by December 31.