Exclusive-Netflix has ample room to increase its offer in battle for Warner Bros, sources say

By Amy-Jo Crowley and Milana Vinn

Feb 19 (Reuters) - Netflix has ample cash and ‌could increase its offer for HBO ‌Max owner Warner Bros Discovery if rival bidder ​Paramount Skydance ups its own offer, two people with knowledge of the matter said.

The two media giants have been locked in a ‌heated rivalry over ⁠Warner Bros and its storied catalogue, which includes iconic franchises like "Harry ⁠Potter", "Game of Thrones", DC Comics and Superman.

Though Warner Bros is moving forward with a ​March 20 ​shareholder vote on ​Netflix's offer, it ‌has given Paramount a week to come up with a more compelling bid.

Netflix has bid $27.75 a share, or $82.7 billion, for Warner Bros' studio and streaming businesses while Paramount ‌has offered $108.4 billion for ​the whole company, which includes ​Discovery Global ​that houses CNN, HGTV and ‌other TV assets.

Netflix and Warner ​Bros declined ​to comment.

(Reporting by Amy-Jo Crowley in London and Milana Vinn in New York. ​Additional reporting ‌by Deborah Sophia and Harshita Mary ​Varghese. Editing by Anousha Sakoui and ​Dawn Kopecki, Kirsten Donovan)