Paramount Tuesday evening said it "welcomed” the determination of the Warner Bros. Discovery board that its latest offer could potentially prove a winner and provided a bit more detail on the sweetened terms.

Paramount has officially raised its offer for Warner Bros. Discovery, CNN’s parent company, to $31 per share, and now the WBD board says it is extending the window for talks with Paramount about a possible deal.

Warner Bros Discovery (WBD) has announced that its Board of Directors has determined that the revised proposal from Paramount Skydance Corporation "could reason

Big news. The ground has shifted as Warner Bros. Discovery said its board determined tha a new proposal from Paramount could reasonably be expected to lead to a so-called "Company Superior Proposal" as defined in WBD's merger agreement with Netflix and that it will continue talks with the David Ellison company.

New offer could 'reasonably be expected' to lead to better deal for shareholders than Netflix bid, HBO owner says

Paramount is in a bidding war with Netflix for Warner Bros. and has until March to make its best and final offer.

Shares of Warner Bros. Discovery firmed Monday, one of the few equities in the green as tariff and trade uncertainty tanked markets. WBD has had an exceptional run over the past six months since Paramount began lobbing unsolicited takeover bids,

Robert Fishman, media & sports betting analyst at MoffettNathanson, joins 'Money Movers' to discuss the sale of Warner Bros. Discovery and more.