The surge follows a tense period when Paramount started making unsolicited takeover offers. Paramount’s last bid was $30 a share in cash, aiming to stop Warner from accepting Netflix’s $27. 75 offer for its studios and streaming services. Paramount also wants a stake in Discovery Global, a new cable spin‑off from Warner. Last week, the two companies opened a seven‑day window for Paramount to raise its bid and make it final. Analysts think Paramount could lift the offer to at least $32 a share, or even $34, to pressure Netflix into matching. Paramount’s CEO says the company will not overpay, while Netflix’s co‑CEO Ted Sarandos stresses discipline.The deal still needs approval from regulators in the United States and abroad. Warner is holding a special meeting on March 20 to let shareholders vote on the Netflix proposal. In the meantime, both sides have been vocal: Netflix accuses Paramount of spreading false information, and Paramount says the process is biased. Industry insiders expect more chatter on earnings calls this week. Paramount will report its latest quarter on Wednesday, and Warner on Thursday. Both companies have declined to comment for now. Investors are watching closely as the two media giants navigate this high‑stakes bidding war, which could reshape how streaming and cable content is delivered. >