Warner Bros. Discovery Opens Talks With David Ellison Following $108.4B Rival Bid and Netflix Waiver

Warner Bros. Discovery opened a seven-day negotiation window with David Ellison after Netflix granted a waiver to evaluate a revised $108.4 billion takeover bid.The board still recommends a $82.7 billion merger with Netflix scheduled for a March 20 vote as David Zaslav and Samuel Di Piazza seek more financing details.David Ellison offered $31 per share with a $40 billion guarantee from Larry Ellison while Netflix raised concerns regarding potential foreign funding from Saudi Arabia.Markets responded positively to the announcement as Warner Bros. Discovery shares rose by 2 percent following the news of possible competition for the media giant.