Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “WBD knocking back Paramount’s latest offer and giving them seven days only reinforces the sense that this process still has room to run – but not necessarily room for Paramount to win.
“Even if a higher bid emerges, Netflix, in theory at least, has wiggle room to raise its offer while still delivering strong medium-term earnings benefits.
“This still feels like Netflix’s race to lose.”
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