Warner Bros. Discovery's board of directors said Thursday that Paramount Skydance's latest offer to acquire the company, including its cable networks, is "superior" to its current deal with Netflix.

Netflix is declining to raise its offer to buy Warner Bros. Discovery’s studio and streaming business, in a stunning move that effectively puts Paramount in a position to take over the fellow storied ...

Paramount had boosted its offer just days ago, agreeing to increase its purchase proposal by $1 per share.