Netflix is up in premarket trading, Warner Bros. is exploring a new offer from Paramount.

Netflix shares rose by 1.5% after Warner Bros. Discovery announced it would consider a new offer from Paramount. Warner Bros. Discovery had previously agreed to sell its studio and streaming business to Netflix. However, the company stated on Tuesday that Paramount's new offer of $31 per share "reasonably expected to result in" a better offer than the one signed with Netflix.