Paramount Extends Tender Offer for Warner Bros. Shares

Paramount Skydance Corp. again extended its tender offer for Warner Bros. Discovery Inc. shares and said it would ask investors to vote against a proposed sale to Netflix Inc. at a special meeting of Warner Bros. shareholders.

The new offer expires Feb. 20, the parent of CBS, MTV and other entertainment businesses said Thursday in a proxy filing. Paramount has been trying to acquire Warner Bros. since September. The company first launched its tender offer on Dec. 8, three days after Netflix announced a deal to buy Warner Bros.’ studios and streaming businesses. The company previously extended the offer for another month on Dec. 22.