$Warner Bros. Discovery(WBD.US) (+4.4% to $29.50/share) likely to move higher as $Paramount Skydance Corporation - CL B(PSKY.US) raises its bid above the $30/share cash offer previously submitted. $Netflix(NFLX.US) offer of $27.75/share ($23.25/share cash + $4.50/share stock) was deemed by $Warner Bros. Discovery(WBD.US) Board as superior because it excludes the global network business to be spun off, which NFLX estimates is worth $3/share. PSKY’s $30/share cash bid is for the entire company, including the global network business. NFLX’s offer faces regulatory hurdles given high industry concentration (~36%) of the combined NFLX / Paramount streaming business.