Business
Heard on the Street Recap: Paramount Gets a Plus
What Happened in Markets Today
Warner Bros. Discovery said Tuesday it will restart deal talks with Paramount. The move sets the stage for a potential bidding war with Warner’s preferred suitor, Netflix. Warner said Paramount has indicated it would be willing to raise its offer to $31 per Warner share from $30 if Warner would agree to engage in negotiations. Warner shares gained 2.7% Tuesday while Paramount rallied 4.9%. Netflix rose 0.2%.
Commercial real-estate lenders have reached a breaking point, calling in tens of billions of dollars of loans. Many CRE lenders initially extended maturing loans they made when borrowing costs were lower, hoping that interest rates would fall or cash flows would grow in a strategy known as extend and pretend.